Strike At Cord Manufacturer Affects Korean Manufacturers

The largest supplier of tyre cord in Korea, Hyosung Corporation, is currently suffering a strike. The country’s three tyre manufacturers, Hankook, Kumho and Nexen, have all expressed concern if the strike is prolonged. To obtain sufficient supplies of tyre reinforcing materials, the companies have been talking to Kolon Industries, the second largest supplier of these materials, and are also investigating the possibility of sourcing outside Korea.