Kumho’s Vietnam Plant Officially Opens

Kumho’s new tyre manufacturing plant in Vietnam’s Binh Duong province was inaugurated on March 5, reports the Vietnam Economic Times. Vietnam’s Deputy Prime Minister Nguyen Sinh Hung and South Korea’s Ambassador to Vietnam, Lim Hong-che, were present at the ceremony, during which a memorandum of understanding regarding investing a further US$300 million in stage two of the facility was signed.

The new factory has an annual capacity of 3.1 million units, and Kumho Asiana Group president Pak Sam-gu commented that the plant, the ninth tyre facility the company has built, is part of the tyre division’s promotion of production in Southeast Asia. The facility is located on a 315,000 square metre site and was built with an investment of $200 million. The facility’s second and more ambitious stage will see production capacity leap to 13 million units and will create 1,500 additional jobs.