SEOUL, Korea – Hankook Tire held a groundbreaking ceremony this week for its new United States plant based in Tennessee. The Tennessee plant will become Hankook Tire’s eighth global production base and its first U.S.-based facility.
 
Expected to begin operation in 2016, the plant will secure production capacity of 12 million tires, mostly for regional supplies in the North American market. According to Hankook, this will enable more efficient tire distribution in the market and open more opportunities to strengthen the business engagement with the U.S.-based automakers for original equipment tire supplies. The company also said the additional production capacity from this plant will contribute to increase annual global production to more than 100 million tires.
 
“Today marks an important milestone in our 73-year history as a tire maker. The new Tennessee Plant will be a pivotal instrument to accommodate our growing business in the United States and also to propel a well-balanced global production portfolio,” said Seung Hwa Suh, vice chairman and CEO of Hankook Tire. “Combined with our advanced technological capability, the newest plant will create premium value and solidify our presence as a top-tier player in the global tire industry.”
 
Building on an aggregated land area of 469 acres, Hankook Tire will invest $800 million for the construction of this new plant. With this investment in place, the new plant will be equipped with the state-of-the-art tire production facilities and provide optimal work environment. It also creates approximately 1,800 full-time jobs in the region.