Q:
A:
Yura’s factory in Raca launches mass production
Raca,
6 July 2010
Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic attended the launch of mass production of electrical installations for the car industry in the Yura Corporation’s factory in Raca today.
Dinkic said that this factory will annually produce more than 20,000 sets of electrical installations intended for manufacturers Hyundai and Kia, describing Yura Corporation as one of the best investors in Serbia.
Yura acquired the Raca-based Zastava Elektro in April and immediately employed 300 workers and began renovating the factory premises, outlined Dinkic adding that the facility now employs 820 workers and it is expected to finish the year with more than one thousand employees.
He highlighted that the government subsidy for every new employee in the Raca plant was €4,500.
The Deputy Prime Minister announced that this company will receive €7,000 for each newly created job in its new factory in Nis.
Dinkic confirmed that Yura is currently awaiting building permits for the Nis plant and added that the factory in Nis should be completed by spring 2011 and is expected to employ 1,500 people by end-2011.
Yura Corporation’s founder and President Eom Dae-yeol stressed that the company chose Serbia as its European base for the production of electrical installations for the car industry.
With the support of the Serbian government, we did a lot of work in three months. We purchased a factory, renovated its production areas, invested in it, launched production and hired new labour, Eom declared.
Raca municipal president Dragana Zivanovic emphasised that launching production in Yura means economic recovery for the municipality because around €2 million will flow to the municipal budget every month thanks to the company and the number of unemployed has already been halved.
Korean Ambassador to Belgrade Kim Jong-hae observed that the Yura Corporation is the first large Korean investor in Serbia, voicing his belief that within a few months the factory in Raca will achieve important results.
He recalled that Serbian Prime Minister Mirko Cvetkovic recently visited South Korea and met with Korean Prime Minister Chung Un-chan, with whom he agreed to improve economic cooperation between their countries. On that occasion, Cvetkovic also voiced his hope that the Yura investment will open the door to Serbia for other Korean companies.
Yura acquired the Raca-based Zastava Elektro in April and immediately employed 300 workers and began renovating the factory premises, outlined Dinkic adding that the facility now employs 820 workers and it is expected to finish the year with more than one thousand employees.
He highlighted that the government subsidy for every new employee in the Raca plant was €4,500.
The Deputy Prime Minister announced that this company will receive €7,000 for each newly created job in its new factory in Nis.
Dinkic confirmed that Yura is currently awaiting building permits for the Nis plant and added that the factory in Nis should be completed by spring 2011 and is expected to employ 1,500 people by end-2011.
Yura Corporation’s founder and President Eom Dae-yeol stressed that the company chose Serbia as its European base for the production of electrical installations for the car industry.
With the support of the Serbian government, we did a lot of work in three months. We purchased a factory, renovated its production areas, invested in it, launched production and hired new labour, Eom declared.
Raca municipal president Dragana Zivanovic emphasised that launching production in Yura means economic recovery for the municipality because around €2 million will flow to the municipal budget every month thanks to the company and the number of unemployed has already been halved.
Korean Ambassador to Belgrade Kim Jong-hae observed that the Yura Corporation is the first large Korean investor in Serbia, voicing his belief that within a few months the factory in Raca will achieve important results.
He recalled that Serbian Prime Minister Mirko Cvetkovic recently visited South Korea and met with Korean Prime Minister Chung Un-chan, with whom he agreed to improve economic cooperation between their countries. On that occasion, Cvetkovic also voiced his hope that the Yura investment will open the door to Serbia for other Korean companies.
-
Belgrade, 11 July 2025Potential for improving cooperation with Belarus in many areas
-
Požega, 5 July 2025Section of Pakovraće - Požega highway officially opened
-
Belgrade, 2 July 2025Technical specifications defined for Serbia-Hungary oil pipeline
-
Belgrade, 30 June 2025IMF confirms Serbia successfully implementing all agreed reforms
-
Belgrade, 27 June 2025Double Taxation Avoidance Agreement with Germany signed
-
Kostolac, 25 June 2025Construction of Kostolac wind farm nearing completion
-
Belgrade, 24 June 2025Government supports request for new postponement of sanctions against NIS
-
Belgrade, 23 June 2025Procedures to facilitate sale of Serbian products to China to be accelerated
-
Belgrade, 21 June 2025Serbia receives first funds under Growth Plan for the Western Balkans
-
Belgrade/Cairo, 20 June 2025New phase in relations with Egypt in field of agriculture