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.
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“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.
