Kumho’s automobile tires plant inaugurated

05/03/2008 -- 10:52 PM

Binh Duong (VNA) – An automobile tire plant with a yearly capacity of 3.1 million units was inaugurated on March 5 in Ben Cat district of southern Binh Duong province. Deputy Prime Minister Nguyen Sinh Hung and the Republic of Korea (RoK) Ambassador to Viet Nam Lim Hong-che were present at the ceremony. According to President of the RoK’s Kumho Asiana Group Pak Sam-gu, the construction of a plant in Viet Nam is part of the Kumho Tires Group’s globalisation strategy to promote its production in Viet Nam and Southeast Asia . This is the ninth plant of the Kumho Tires Group and the other eight are located in the RoK, China and the US . Located on an area of 315,000sq.m at the My Phuoc 3 Industrial Zone, the Kumho Tires plant was built at an investment capital of 200 million USD from October 2006. At the ceremony, General Director of the Kumho Tires Viet Nam Co. Ltd. Oh Sae-chul and President of Binh Duong’s Becamex ID Corporation Nguyen Van Hung signed a memorandum of understanding on investing 300 million USD in the second phase of the plant in order to bring its production capacity to 13 million products per year and generate 1,500 jobs for local workers. At present, Kumho Tires has established a system of business companies in different fields in the country including the Asiana Airline, the Kumho Tires plant and the Kumho Construction and Daewoo Construction Companies.-Enditem
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