• About Us
    • Curriculum Vitae
  • Contact Us
  • Photo Gallery
  • Albanian Tourism
albanian SQ English EN italian IT
December 16 2019
Albania News
  • Home
  • Albania
    • Population
    • Economy
    • Press review
    • Stats
    • Polls
    • Technology
    • Curiosity
    • Festivities
    • The chronology
  • Italy
    • Albanian diaspora
    • Events
    • Albanian Associations
    • The Arbëreshë
  • Kosovo
  • Europe
    • Balkans
    • Serbia
    • Northern Macedonia
    • Montenegro
    • Greece
  • Opinions
  • Culture
    • Literature
    • Books
    • History
    • Kitchen
    • Art
    • Cinema
    • Music
  • Interviews
  • Tourism
    • Tirana
    • Durrës
    • Shkodër
    • Saranda

      Rahovec, Kosovo
    • Korçë
    • Gjirokastër
  • Sports
No result
View all results
Albania News
No result
View all results
Home News Economy

The Korean Yura opens a factory in Albania. Will produce parts for Hyundai and KIA

Kia Rio 5 Door 20 Opt

After a two-year bureaucratic procedure, the Korean group 'Yura Corporation' will finally open its first factory in Albania in Zhupan, near Fier.

February 27 2019
2
658
Shares
ShareShareShare

The automotive industry is increasingly expanding in Albania: the Germans of the 'Forschner' have built their third factory in the country, while 'PSZ Albania' has been operating for years in the Albanian territory. To these were added the French of the 'Delmon Group' - with a factory in Elbasan - and the Koreans of 'Yura', with the latter who, after an epic of two years, are ready to settle in Fier.

Companies have announced their desire to create a long-term relationship with Albania, now it is up to the government to be able to benefit from this possibility.

Why Albania

The low cost of labor, the favorable geographical position and the saturation of the automotive industry markets of the countries of the area, are the main factors that are pushing foreign investors to plunge into the Albanian market.

After the Germans of 'Forschner' and 'PSZ Albania' - which have been operating for years in the country - the French group 'Delmon' has also exported its market to Albania, where it has been operating for a year in Elbasan. These companies are followed by the Korean 'Yura', which signed a contract with the Albanian government a few weeks ago.

Beyond the ups and downs that the latter had to face in order to enter the Albanian market (an initial investment of 6,5 million euros that will create 516 new jobs), the Albanian industry seems to have arrived at a very important crossroads. Albania has a great possibility that if properly exploited, it will allow these companies to expand even more, thus helping the country's labor market.

Yura Corporation

The Korean company 'Yura Corporation' - which manufactures parts for KIA and Hyundai - showed interest in the Albanian market in the 2017 for the first time. From that moment on, the company representatives had to face delays and problems in the procedures, which put the project at risk.

In November last year, the group's representative, Lukas Nam, stated that the bureaucracy encountered had created problems for the realization of the project, but, fortunately, the situation ended with a happy ending.

The Albanian Ministry of Economy has announced that it has authorized the state rental of the land in which the factory will be built: it is an area of ​​4,9 hectares in Zhupan, near Fier. Furthermore, the ministry has announced that - according to the long-term plan of the Korean company - Yura Corporation will also open another factory in the future, for about 4.000 total jobs.

Topics: AlbaniaAlbanian economyFier

This article is translated from Italian to English using Google's free service. If you want to offer a more accurate translation you can contact Albania News by mail on english@albanianews.it - You can read this article in Italian

Follow Albania News on Google News

Share658TweetShare

Related Articles

Arben Ahmetaj
Albania

Albania approved the new state budget for the 2020. A new ministry is born.

December 14 2019
Nikola Dimitrov, Minister of Foreign Affairs of Northern Macedonia
2 Europe

EU negotiations: Northern Macedonia, dividing our destiny from Albania if necessary

December 10 2019
Peter Handke Nobel Prize Literature 2019 1140x570
Social

Albania and Kosovo will boycott the Nobel prize ceremony

December 9 2019
Nena Shqiperi
Albania

Albania, solidarity for earthquake victims pervades the 75th anniversary of liberation

November 29, 2019
Albanian Parliament
Albania

Albania, 15 organizations oppose the supervision of the country's online media

November 23, 2019

Discussion on this article

Related Articles

Arben Ahmetaj
Albania

Albania approved the new state budget for the 2020. A new ministry is born.

December 14 2019
Nikola Dimitrov, Minister of Foreign Affairs of Northern Macedonia
2 Europe

EU negotiations: Northern Macedonia, dividing our destiny from Albania if necessary

December 10 2019

Latest Articles

Arben Ahmetaj
Albania

Albania approved the new state budget for the 2020. A new ministry is born.

December 14 2019
CH Bundeshaus Nord
Albania

Switzerland, from 2021 the exchange of bank information will also be extended to Albania

December 13 2019
Albanian handicraft Rome
Events

Albanian crafts in Rome: tradition, creativity and economy

December 13 2019
US Embassy in Tirana
Albania

US Embassy in Tirana: SPAK will end impunity in Albania

December 12 2019
Sports

July 1958: Dinamo Tirana in the Czechoslovakian totocalcio!

December 12 2019
Read more
Next article
Denata Ndreca

The Albanian poet Denata Ndreca comes out with her new book "Tempo Negato"

Albania News

Albania News is an online newspaper in Italian with the latest news on Albania (Shqipëria) and the Albanians in Italy. Registered at the Court of Modena at the 1973 number of the 30-09-2009

Follow us

Special Albania

  • Albania
  • Tirana
  • Durrës
  • Shkodër
  • Saranda

    Rahovec, Kosovo
  • Korçë
  • Gjirokastër

What to know

  • Population
  • Economy
  • Stats
  • Festivity
  • Chronology
  • Curiosity
  • Kosovo

Culture

  • Interviews
  • Art
  • Literature
  • Kitchen
  • Diaspora
  • Events
  • Tourism

Categories

  • News
  • Towards Europe
  • Italy
  • Opinions
  • Culture
  • Arbëria
  • Shqip
  • User Agreement
  • About Us
  • Contact Us
No result
View all results
  • Home
  • Albania
  • Italy
  • Kosovo
  • Europe
  • Opinions
  • Culture
  • Tourism
  • Sports

Albania News, Focus on Albanian Reality

This site uses cookies to improve your experience and offer services in line with your preferences. If you want to learn more or opt out of all or some cookies go to the section Cookie policy.