Hankook Tire to Spend £130 Million on New Factory

Hankook Tire Co., South Korea’s largest tiremaker, announced on February 23 its intention to spend 235 billion won (£130 million) building a new South Korean factory. The new tyre plant will be located at Geumsan, 198 kilometres south of Seoul, where the company has an existing plant with an annual capacity of 15 million units.

At present Hankook operates four tyre manufacturing facilities, two in South Korea and two in China. A fifth factory in Hungary is scheduled to enter production this spring.