Kumho has signed an investment agreement to build a new plant in South Korea

On December 9, the management of Kumho Tire and representatives of the authorities of Hamphyeong City and Jeollanam-do Province (South Korea) signed an investment agreement to build a new tire plant. It is expected that by 2027, the enterprise will be able to produce 5.3 million tires, and the full-scale operation is scheduled for 2028.

In the first phase, the project will invest 661 billion won (450 million dollars), and ERJ notes that it will be implemented as part of the relocation of production from Gwangju, where the Kumho plant was seriously damaged during a major fire in May of this year.

Kumho reports that the new site will implement intelligent technologies and environmentally friendly production processes, and in the future, it will play a key role in increasing the company's medium- and long-term competitiveness and laying the foundation for sustainable growth.

"The construction of the plant in Hamphyeong is a strategic investment project for Kumho Tire, aimed at ensuring the company's leadership in the field of future mobility, as well as raising our competitiveness to a new level," said Kumho CEO Jeon Il-taek, adding that "the company will continue to contribute to creating new jobs and revitalizing the local economy".

On December 1, Kumho also announced that it had chosen a location for its first European plant, which will be built in the Polish city of Opole. The plant is scheduled to be launched in August 2028, and its capacity will be around 6 million tires per year.