Hankook Tire Looks to Eastern Europe

Speculation around Hankook’s suggested move to Eastern Europe continues. For months now different sources have suggested that the South Korean company is planning a plant to supply regional carmakers like the Slovak unit of Kia Motors Corp.

Hankook’s Seoul headquarters declined to comment on the amount involved in this development, but company spokesman, Moon Jeong-soo, said the company would decide on the size and location of the investment in March, the Korea Herald has reported. “We are considering various countries right now, including Slovakia and Poland,” the spokesman said.

Then on 14 January, Slovak Economy Minister Pavol Rusko reportedly said the government is negotiating with an undisclosed Korean investor willing to invest £345 million (500 million euros) in Eastern Europe. According to the newspaper, Mr Rusko declined to comment yesterday at a press conference in Bratislava when asked if that investor was Hankook.