April 20, 2024

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[THE INVESTOR] Hankook Tire, the nation’s largest tire manufacturer, officially opened its first plant in the US on Oct. 17 (local time). 

The US$800 million facility, located in Clarksville, Tennessee, will roll out 5.5 million units annually in the first phase. When the second phase of development is completed, the output level is expected to go up to 11 million units. It is Hankook’s fourth manufacturing facility overseas -- the rest are in China, Hungary and Indonesia. 

More than 300 people attended the opening ceremony of the facility that began construction in 2014, including Tennessee Gov. Bill Haslam, Clarksville Mayor Kim McMillan, and Hankook Tire Vice Chairman and CEO Suh Seung-hwa. 

“The new Tennessee plant signifies Hankook Tire’s growing business in the US and continued journey toward being a global leader in the tire industry,” said Suh at the ceremony. “Our investment in the US is part of our ongoing commitment to innovation, state-of-the-art technology and service for our customers. This high-tech, sustainable facility will enable Hankook to execute every phase of business in the US, from R&D to production and sales.” 

The new facility has brought over 1,000 new jobs to the southern state, according to the firm, with the number expected to climb to 1,800 as infrastructure expands. 

The tire maker said the US facility will focus on producing premium tires to expand supply to global car brands and tire dealers in the US.

By Ahn Sung-mi (sahn@heraldcorp.com)