13 Jul 2026
Tire maker extends completion schedule for Hampyeong factory by two months
Seoul – Kumho Tire has increased its investment in a new tire production plant in Hampyeong, South Korea by around 15%, the tire maker announced.
In an 8 July stock exchange filing, Kumho said it will now invest KRW760 billion (€440 million) in the new factory, up from the KRW661 billion investment announced in September last year.
The tire maker has also extended the target completion date for the plant by two months to the end of March 2028, according to the filing.
According to previous Kumho announcements, the factory will have an annual production capacity of 5.3 million tires and 7 million units of "refined rubber" in its first phase. (ERJ report)
The plant, which is being built following a major fire at the company’s Gwangju factory in May last year, will use proceeds from the sale of the old factory to expand production to 12 million tires per year in its second phase.
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