Nexen Tyre has officially opened its factory in Changnyeong County in South Korea. The plant started operations early.

According to Tyres & Accessories, the tyre maker said it would continue to invest in the plant with a spend of KRW1.2 trillion (US$1.08bn) by 2018. Production capacity, including other plants in Yangsan and Qingdao, would double to 60m units by then.

"When we complete the investment in our second plant in South Korea, we will become one of the top 10 tyre manufacturers in the world," Kang said.

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