April 25, 2024

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[THE INVESTOR] Hankook Tire will hire 1,200 workers in the United States following the completion of its new production facility there, company officials said on Feb. 8.

According to company officials, the construction of the new plant will be completed within the first half of the year.

Market observers say the decision to build a US plant may turn out to have been the best choice for the company, especially under the new Donald Trump administration and its America First policy.

Hankook Tire products, at least in the US market, will likely have new price competitiveness over its global competitors, which will likely face increased import tariffs under the new US trade policy.

Hankook Tire officials said the company may decide to further increase the output capacity of the Tennessee plant to 11 million from the current 5.5 million tires per year, which will also increase its total employment to 1,800 workers.

(theinvestor@heraldcorp.com)