Kumho Tire Selects Poland as Site for New European Plant, Aiming for 2028 Operations

Investment of 860.6 Billion Won

Kumho Tire announced on December 1 that it has finalized Opole Province in Poland as the site for its new European plant.

The new European plant, to be constructed in Opole Province, Poland, is scheduled to begin operations in August 2028 after completing investment approvals and permit procedures.

The first phase of production will have an annual capacity of 6 million tires, with plans to gradually expand production capacity depending on market conditions. The total investment amounts to 587 million dollars (approximately 860.6 billion won).

Previously, Kumho Tire had comprehensively reviewed various European countries as potential sites for the new plant, considering factors such as site conditions, potential for sales growth, investment stability, profitability, and incentive benefits. The company explained that it ultimately selected Opole Province, Poland, as the final location after evaluating logistics, workforce, infrastructure offered by the Polish government, supply stability within Europe, and various incentives.

Kumho Tire aims to enhance both profitability and brand value by establishing a local production base in Europe, which accounts for 26.6% of its sales. Although there were previously limitations in supply stability, the new plant is expected to not only improve responsiveness to local original equipment (OE) tire demand but also expand opportunities for collaboration with premium brands.

Jung Iltaek, CEO of Kumho Tire, stated, "The European market holds a highly important and strategic position in the global tire industry. Through local production and supply in Europe, we will strengthen our competitiveness in quality and service and dramatically enhance our premium brand value."

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