DUNAUJVAROS, Hungary (June 27) — Hankook Tire Co. Ltd. has started up production at its $650 million tire plant in Dunaujvaros less than a year after starting construction. It is the company´s first production facility in Europe and its fifth worldwide.
The firm said the plant will help Hankook achieve its goal of doubling its market share in Europe to 8 percent by 2010. The first tire off the production line was an Optimo K715, which was signed by Hankook CEO Seung Hwa Suh; Janos Koka, the Hungarian minister of economy and transport; and Eom Seock Jeong, the Korean ambassador in Hungary.
When the factory is fully operational in 2010, it is expected to produce 10 million tires a year and employ 1,500.