South Korea’s Yurahanes Invests USD 15m to Expand Car Electronics Assembly Plant in Kampong Speu

• 11 September 2024
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South Korean company Yurahanes (Cambodia) is set to expand its car electronics assembly plant in Kampong Speu province, following an investment of over USD 15 million. The factory, which employs 1,200 workers, including seven foreign specialists, was inaugurated under the presidency of HE Deputy PM Hun Many on 26 April 2023.

The plant is located in Tuol Thnong village, Rokar Thom commune, Chbar Morn city, Kampong Speu province. This expansion was discussed during a meeting on 10 September 2024 between HE Dr Cheam Chansophoan, Governor of Kampong Speu, and a representative of Yurahanes, who confirmed plans to increase the plant’s capacity, create additional jobs, and raise salaries for the local workforce.

In the first half of 2024 alone, Kampong Speu welcomed the opening of 30 new factories, adding to its current total of 423 factories and around 1,000 small and medium enterprises, collectively employing more than 200,000 workers. (Read more)

These developments are part of the province’s robust industrial growth. Dr Cheam also highlighted that, since 1993, when Cambodia had only 51 enterprises, the country now boasts approximately 1,997 factories as of September 2024, employing over one million Cambodians.

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