Hankook Tire partially restarts production at fire-damaged plant

Half a year after a major fire caused extensive damage to its tyre factory in Daejeon, South Korea, Hankook Tire & Technology has recommenced some tyre production within the facility. In a disclosure to the Korea Exchange (KRX), the company reports that it approved the resumption of production at the site’s Plant 1 facility on 1 September 2023.

The disclosure emphasises that production has only resumed in Plant 1, adding that the Daejeon site’s Plant 2 facility was “destroyed by fire”. Hankook Tire adds that the suspension of production in Daejeon since the 12 March fire amounted to (as of 1 September) KRW 1,167,739,420,439 (£700.4 million, US$873.2 million), which represents 16.4 per cent of all sales in the latest fiscal year.