Yura Corporation d.o.o.

Yura Corporation (Serbian: Јура Корпорација) is a Serbian cable and harnessing manufacturing company headquartered in Rača, Serbia. It is owned by the South Korean manufacturing company Yura Corporation.

Yura Corporation
Native name
Јура Корпорација
Typed.o.o.
IndustryManufacturing
Founded18 March 2010 (2010-03-18)
Headquarters
Kralja Petra I, Rača
,
Serbia
Area served
Worldwide
Key people
Seung Woo Yu (Director)
ProductsPower, instrumentation and telecommunications cables, cable harnesses
RevenueIncrease €178.29 million (2018)[1]
Decrease €2.53 million (2018)[1]
Total assetsIncrease €170.48 million (2018)[2]
Total equityDecrease €63.48 million (2018)[2]
OwnerYura Corporation South Korea
Number of employees
6,081 (2018)

History

Yura Corporation d.o.o. was established on 18 March 2010, with the headquarters in Rača, Serbia. The company was established through Government of Serbia subsidies to the South Korean cable manufacturing company Yura Corporation, which is the cooperator of the largest South Korean automobile manufacturers Kia Motors and Hyundai Motors.

In April 2010, Yura Corporation bought the insolvent Serbian manufacturing company "Zastava Elektro" based in Rača, for a sum of 3 million euros.[3][4] Later, it renovated its facilities and renewed production.[5]

In June 2011, Yura Corporation opened in the city of Niš its second facility in Serbia, employing additional 1,500 people.[5] In November 2011, Yura Corporation subsidiary company "Yura Shinwon" opened its facility in Niš, employing 500 people.[6]

In 2012, Yura Corporation opened its fourth facility in Leskovac.[7] As of November 2012, Yura Corporation employed around 5,500 employees in Serbia.[8][9]

In September 2015, the mayor of Leskovac confirmed that Yura Corporation is building yet another facility in Leskovac, its fifth facility in Serbia.[10] When finished by the end of 2018, it would employ additional 3,000 people.[10]

In February 2018, Yura Corporation announced that it is building another facility in Leskovac, worth 40 million euros.[11]

Market and financial data

Over the years, Yura Corporation emerged as one of the top Serbian net exporters. For 2014, it was third largest net exporter of Serbia with 119 million euros worth of exports.[12]

Labor controversies

Since Yura Corporation was established in Serbia in 2010 through Government's subsidies, there were constant media reports about the inhumane working conditions for its employees.[13] According to these reports, employees are forced to work in harsh conditions and to be silent about the violations of labor laws, due to high unemployment rates in the country and threats by the investors to leave the country if complaints and eventual syndicate strikes continue to disrupt company's reputation.[13][14] Among the violations are: mobbing, insulting, cursing and even physical attacks such as slapping and other forms of harassment.[13]

In 2015, there were even reports that the workers are not allowed to use the toilets due to decreased production productivity, and that instead they are using diapers.[14]

See also

References
  1. "БИЛАНС УСПЕХА (2018) - Yura Corporation d.o.o." apr.gov.rs (in Serbian). Retrieved 13 September 2019.
  2. "БИЛАНС СТАЊА (2018) - Yura Corporation d.o.o." apr.gov.rs (in Serbian). Retrieved 13 September 2019.
  3. R., Z. (9 April 2010). "Jura kupila Zastavu elektro". danas.rs (in Serbian). Retrieved 23 February 2018.
  4. "Loša privatizacija Zastave Elektro". b92.net (in Serbian). 7 July 2007. Retrieved 23 February 2018.
  5. "Kompanija "Jura" zapošljava još 1.500 radnika u Nišu". blic.rs (in Serbian). Tanjug. 12 June 2010. Retrieved 23 February 2018.
  6. Janačković, B. (17 November 2011). "Otvorena druga fabrika "Jura" u Nišu". blic.rs (in Serbian). Retrieved 23 February 2018.
  7. Kocić, Danilo. ""Jura" u Leskovcu zaposlila 500 radnika". juznevesti.com (in Serbian). Retrieved 23 February 2018.
  8. "Jura zapošljava 5500 ljudi u Srbiji". b92.net (in Serbian). Tanjug. 16 March 2012. Retrieved 23 February 2018.
  9. "Jura investirao 60 miliona evra". b92.net (in Serbian). Tanjug. 7 November 2012. Retrieved 23 February 2018.
  10. "Jura u Leskovcu gradi petu fabriku, najveću u Srbiji". blic.rs (in Serbian). 3 September 2015. Retrieved 23 February 2018.
  11. "Jura gradi novu frabriku u Leskovcu, investicija 40 miliona evra". blic.rs (in Serbian). Tanjug. 19 February 2018. Retrieved 23 February 2018.
  12. "Najveći neto izvoznici FAS, Petrohemija i Jura". blic.rs (in Serbian). Tanjug. 4 March 2015. Retrieved 23 February 2018.
  13. ""Jura" negira optužbe radnika". blic.rs (in Serbian). Srna. 29 January 2011. Retrieved 23 February 2018.
  14. Vukšainović, S.; Ivanović, M. (30 April 2016). "LESKOVAC IZ DOBA JURE Koliko je zaista teško raditi u južnokorejskoj fabrici". blic.rs (in Serbian). Retrieved 23 February 2018.
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