Kumho Tire Invests 25 Billion KRW to Expand Georgia Factory in the U.S.

[Asia Economy Reporter Gong Byung-sun] Kumho Tire plans to expand its factory in Macon, Georgia, USA, following the expansion of its Vietnam plant this year.

Kumho Tire announced on the 25th that it recently held a board meeting and decided to expand its factory located in Macon, Georgia, USA. The total investment amount is 21.8 million USD (approximately 25 billion KRW).

Construction is expected to begin as early as May, with an expansion capacity of 500,000 units per year. The Georgia plant currently has an annual production capacity of about 4 million units.

Kumho Tire explained that the expansion decision was made due to an increase in transaction volume, including securing new business lines related to sport utility vehicles (SUVs) in the North American market.

The investment is also interpreted as a response to anti-dumping tariff measures. At the end of last year, the US Department of Commerce preliminarily determined anti-dumping duties, resulting in an additional 27.81% tariff rate applied to Kumho Tire.

In March, Kumho Tire announced an expansion of its Vietnam plant, deciding to invest 339.8 billion KRW. This is expected to create facilities capable of producing an additional 3.8 million units annually.

This content was produced with the assistance of AI translation services.