{"id":36691,"date":"2024-03-20T17:10:59","date_gmt":"2024-03-20T16:10:59","guid":{"rendered":"http:\/\/www.tyretrade.ie\/?p=36691"},"modified":"2024-03-20T18:29:51","modified_gmt":"2024-03-20T17:29:51","slug":"kumho-tire-considering-building-plant-in-europe","status":"publish","type":"post","link":"https:\/\/www.tyretrade.ie\/index.php\/kumho-tire-considering-building-plant-in-europe\/36691","title":{"rendered":"Kumho Tire considering building plant in Europe"},"content":{"rendered":"

Kumho Tire could open its first tyre plant in Europe within the next three years, with an investment of over one trillion South Korean won (c.\u20ac688m) being considered.<\/p>\n

According to a recent article published in The Korea Economic Daily, Romania, Serbia, Portugal and Turkey are seen as potential locations for the factory.<\/p>\n

Kumho has been supplying tyres to Europe from Vietnam where the company has easy access to raw materials such as natural rubber.<\/p>\n

If the plant is built, Kumho would be able to increase its supply of tyres to premium European auto makers, with an annual capacity of 12 million units envisioned.<\/p>\n

\u201cWe are reviewing Romania, Serbia, Portugal and Turkey as potential locations for the plant,\u201d Kumho president and CEO Il Taik Jung told The Korea Economic Daily.<\/p>\n

\u201cWe plan to complete the site selection process by the end of this year after checking subsidies and tax incentives from the federal and local governments.\u201d<\/p>\n

\"\"
Il Taik Jung, president and CEO Kumho. (Photo: Kumho Tire)<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Kumho Tire could open its first tyre plant in Europe within the next three years, with an investment of over one trillion South Korean won (c.\u20ac688m) being considered.<\/p>\n","protected":false},"author":104,"featured_media":36692,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[136,1],"tags":[741],"class_list":["post-36691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kumho","category-news","tag-kumho-tire"],"yoast_head":"\nKumho Tire considering building plant in Europe - TyreTrade.ie<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tyretrade.ie\/index.php\/kumho-tire-considering-building-plant-in-europe\/36691\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kumho Tire considering building plant in Europe - 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