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Hankook Tire & Technology Co. will invest 2.1 trillion won to expand its US tire manufacturing plant by early 2026 to help its global output capacity reach 106.5 million tires a year.
In the expanded US facility, the company intends to produce 12 million tires, including truck and bus radial (TBR) tires.
Hankook Tire plans to manufacture 11 million tires for passenger cars and light-duty trucks, as well as 1 million TBR tires, in the United States.
Hankook Tire, the world's sixth-largest tiremaker by sales, manufactures 5.5 million tires per year for passenger vehicles and light-duty trucks in its Tennessee plant.
More than 80 percent of Hankook Tire's total revenue is earned outside of Korea.
Hankook has eight plants, two in South Korea, one in Hungary, one in the United States, three in China, and one in Indonesia.
Their combined capacity reaches about 100 million tires per year.
