South Korean tire production to increase 4 percent in '02

SEOUL, South Korea (Jan. 17)—Production of tires by South Korean manufacturers should grow 4 percent over 2001, to nearly 73 million units, according to the Korea Tire Manufacturers Association. Exports will rise 2.3 percent, to 49 million tires, the trade group predicts. Local sales of foreign tires also are increasing sharply, the group said. Sales this year should hit 4.5 million tires, up 25 percent over 2001, to boost the import share to about 16.4 percent vs. last year's 13.8 percent. Annual production should rise steadily in the next few years, topping 80 million tires by 2005.