An announcement was made on the 12th of July by the Albanian Prime Minister ‘Edi Rama’ that Yura Corporation which is a South Korean producer of electrical parts for the automotive industry has initiated the construction of a factory in the southwest Albanian city of Fier, which is an investment of €13 million.

Yura intends to establish an area with an overall surface of 4.9 hectares in Fier, which was designated as a priority zone for the automobile manufacturing industry in the last year.

Rama announced on his Facebook page that the discovery of oil at Shpirag oil well has amplified the interests of foreign firms to invest in Albania.

Around 1 thousand jobs will be opened by the Yura Plant. Rama proclaimed that Yura plans to open 2 more production facilities in Albania, in Librazhd and Elbasan.

Yura Corporation is an expert in designing, developing & production of automotive electronics inclusive of wiring harnesses. The firm’s portfolio also includes safety plugs, high voltage connectors, stick coils, fast & slow charging interfaces, spark plugs, and high voltage shield assemblies; applicators and circuit testers.

The company was found in 1993. After then, its Institute of R &D was combined with that of Hanil Tech. Since its establishment, Yura Corporation has continued its development on its core technologies.

The firm has built customer confidence with innovative quality & investing in advanced technology.

Today, capabilities of Yura Corporation have become so progressive into the eco-friendly automotive market to include high voltage junction blocks, high voltage connectors, and charging couplers.

To prepare for the fourth industrial revolution, Yura Corporation is increasing the development of major technologies needed for eco-friendly, autonomous, and connected automobiles. They will become a trusted partner the customers & leader in the market.