South Korea invest in Serbia

Belgrade, June , 25. 2010. (Serbia Today) - South Korean Yura Corporation, which recently bought Zastava Elektro in Rača, will begin building another factory in Serbia. As B92 reported the company’s Director Lukas Nam has stated that they would start building a plant in the southern town of Niš to manufacture auto installations. The factory is expected to cover some 20,000 square meters, while the construction is expected to start in the first half of 2012. “I’m currently in negotiations with the government and the local self-government of the City of Niš about the possibility to realize a greenfield investment. The factory which will be built in Niš will be a lot bigger than the one in Rača.” “I can tell you that it will probably be even three times bigger. According to my business plan, at least EUR 15mn will be invested in the building and equipment,” Nam said, and added that 1,500 jobs would be created in this way.