Maersk Raises 2026 Earnings Outlook as Shipping Profits Beat Expectations 
JPMorgan Plans More Asia-Pacific Hiring in 2027 as Corporate Banking Revenue Surges 
Google Pushes Gemini AI Overhaul as Sergey Brin Targets Model Supremacy 
Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
ADNOC Gas Targets Up to $4B Profit in 2026 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
ASX Faces Legal Action Over Failed Blockchain CHESS Project 
Trump Media Says Truth API Draws 10+ Customers as Conflict Concerns Grow 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
Nvidia Secures $500 Billion AI Infrastructure Push With Wall Street Giants 
OpenAI Executive Brad Lightcap to Leave for New AI Venture 
Sanrio Shares Plunge as Q1 Profit Miss Overshadows Strong Sales 
US Judge Dismisses Gautam Adani Criminal Charges 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Hanwha Offers Up to $1.2 Billion for Austal US Business 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
Add as a preferred source on Google
Kumho Tire revealed this week that it would be investing KRW340 billion won or around $297.6 million to expand its plant in Vietnam. This move will allow the company to double its production capacity.
The reason behind the decision for expansion
As per The Korea Times, the South Korean company is taking this step to increase its export capability to North America. The expansion will make sure that Kumho Tire will be able to deliver more products than it was producing before.
The company shared that the plan was only made possible after the board agreed to shell out KRW340 billion as an investment. The fund will be gradually released starting in the third quarter of 2021 up to the first quarter of 2023.
"After considering our plan to increase North America-bound exports and potential U.S. anti-dumping duties, we came to the conclusion that increasing the capacity of the Vietnamese plant would be the best solution," an official from Kumho Tire stated.
The plant will be expanded by building more structures on the vacant lot inside the plant’s compound. Once completed, it was said that Kumho Tire will be able to make at least 9.3 million tires per year. Currently, the firm can only produce about 3.8 million pieces a year.
About Kumho Tire
Kumho Tire is the second-largest tire maker in South Korea. It is currently operating a total of eight tire plants in four countries that include China, the U.S., Vietnam, and South Korea. The company chose to expand its Vietnam unit since it is the best place for the production expansion that is expected to boost the company sales in North America in the long term.
The Korea Herald noted that there is an increase in demand in the said territory, so Kumho Tire is taking steps to ensure that it will be able to supply the needed products despite the toughening market conditions today.
Finally, the billion won investment that it will spend is almost six times higher than its operating revenue in 2019, but Kumho Tire is confident they will be able to get back their money in no time.
