Quick Takeaways
- Kumho Tire has formalized a major KRW 660.9 billion investment to build a next-generation tire plant in South Korea, significantly expanding domestic production capacity.
- The new facility is aimed at boosting manufacturing efficiency, quality consistency, and long-term global competitiveness across passenger and commercial vehicle segments.
On October 30, Kumho Tire new tire plant South Korea development marked a significant milestone as the company formalized an investment agreement with the Jeollanam-do provincial government and Hampyeong-gun authorities. The move reflects Kumho Tire’s strategic focus on reinforcing its manufacturing base while responding to evolving global demand and competitive pressures.
Kumho Tire New Tire Plant South Korea: Investment Scope
The agreement outlines a total investment of KRW 660.9 billion, aimed at constructing a next-generation tire manufacturing facility in Hampyeong-gun, Jeollanam-do. Once operational, the plant will deliver an annual production capacity of approximately 5.3 million tires, strengthening Kumho Tire’s domestic production footprint.
Key highlights of the investment include:
Strengthening Global Manufacturing Competitiveness
The Kumho Tire new tire plant South Korea initiative is designed to improve medium- to long-term competitiveness by upgrading core manufacturing capabilities. The new facility is expected to integrate optimized production lines and quality control systems, allowing Kumho Tire to respond more flexibly to international market requirements.
By reinforcing operational efficiency, the company aims to improve cost competitiveness while maintaining strong product performance across passenger car and commercial vehicle segments.
Foundation for Sustainable Growth
Beyond capacity expansion, the project supports Kumho Tire’s long-term sustainability strategy. Establishing a modern production base in Jeollanam-do creates a platform for stable growth, technological advancement, and closer collaboration with regional partners.
The plant is also expected to contribute to regional economic development through job creation and industrial activity, aligning corporate growth with local economic priorities.
As global tire markets continue to evolve, the Kumho Tire new tire plant South Korea investment positions the company to scale efficiently, strengthen supply resilience, and support future innovation in tire manufacturing.
Kumho Tire New Tire Plant South Korea: Investment Scope
The agreement outlines a total investment of KRW 660.9 billion, aimed at constructing a next-generation tire manufacturing facility in Hampyeong-gun, Jeollanam-do. Once operational, the plant will deliver an annual production capacity of approximately 5.3 million tires, strengthening Kumho Tire’s domestic production footprint.
Key highlights of the investment include:
- Expansion of advanced manufacturing infrastructure
- Higher production efficiency through modernized processes
- Enhanced quality consistency aligned with global standards
Strengthening Global Manufacturing Competitiveness
The Kumho Tire new tire plant South Korea initiative is designed to improve medium- to long-term competitiveness by upgrading core manufacturing capabilities. The new facility is expected to integrate optimized production lines and quality control systems, allowing Kumho Tire to respond more flexibly to international market requirements.
By reinforcing operational efficiency, the company aims to improve cost competitiveness while maintaining strong product performance across passenger car and commercial vehicle segments.
Foundation for Sustainable Growth
Beyond capacity expansion, the project supports Kumho Tire’s long-term sustainability strategy. Establishing a modern production base in Jeollanam-do creates a platform for stable growth, technological advancement, and closer collaboration with regional partners.
The plant is also expected to contribute to regional economic development through job creation and industrial activity, aligning corporate growth with local economic priorities.
As global tire markets continue to evolve, the Kumho Tire new tire plant South Korea investment positions the company to scale efficiently, strengthen supply resilience, and support future innovation in tire manufacturing.
Press release
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