SEOUL, South Korea (May 19, 2011)—Hankook Tire Co. Ltd. held the groundbreaking ceremony for its third Chinese Plant in Yufu Industrial park of Chongqing Liangjiang New Area May 18.
Hankook signed a $954 million investment agreement in Chongqing on November 2010. With an area of about 530,000 square meters, the new plant, which will start operation by August 2012, will mainly produce truck and bus and passenger car tires.
The plant will be completed by the end of 2015 and will produce 4,500 truck and bus radial and 30,000 passenger car radial tires per day.
It will have production capacity of 11.5 million per year, among which 1.6 million units are truck-and-bus tires.