Youngsan Glonet (Seoul / South Korea; www.youngsan.com) is reportedly investing EUR 12m via its subsidiary Hyunnam SK in a new plant in Slovakia, which will produce mostly wipers, tubes, lights and other parts for automotive producers Kia and Hyundai. The plant in Krasno nad Kysucou in the country’s north is expected to commence production at the end of this year already. The initial workforce of 250 is forecast to reach 750 once full operations begin.

Slovak media report that 987,700 vehicles were produced in the country last year – a record number. Fellow South Korean OEM Hyundai Mobis also recently announced plans for a new facility catering to Hyundai and Kia – although its plant will be located in the neighbouring Czech Republic (see Plasteurope.com of 19.08.2014).

Aside from South Korea, Youngsan also operates production sites in Ukraine and Mali. In addition, it has a network of trade groups that spans eastern Europe, Asia and Africa.