Hankook Tire to invest 2.1 trillion won to expand U.S. plant

Hankook Tire is actively promoting its factory expansion project in the United States. The project has been in preparation since 2022, with a total investment of 2.1 trillion won (about 10.92 billion yuan). It is expected to be officially put into production in early 2025 and fully put into production the following year. After the expansion is completed, Hankook Tire's annual production capacity in the United States will increase from the current 5.5 million to 12 million, of which passenger car tires will dominate, reaching 11 million.