At the meeting, Mr. Kim Hyun Ho informed that Kumho Tire Vietnam Co., Ltd. belongs to South Korea's Kumho Tire Group and is currently ranked 10th in the car tire manufacturing industry. The company invested in building a factory in My Phuoc 3 Industrial Park in 2007, manufacturing passenger car and light truck tires with a total initial investment of 308 million USD.
Overview of the meeting
In 2021, the company continued to expand and supplement its investment with 300 million USD, raising the total investment to 608 million USD and extending the factory scale to 6 hectares, increasing the production capacity to 12.5 million tires per year. The plan to continue expanding the investment for phase 3 in early 2025 will raise the total investment to 908 million USD and the factory's capacity increasing from 12.5 million to 17 million tires per year.
Mr. Vo Van Minh – Deputy Secretary of the Provincial Party Committee, Chairman of the PPC (on the right) welcomed and worked with Mr. Kim Hyun Ho – General Director of Kumho Tire Viet Nam Co., Ltd.
Regarding the implementation building of the expanding investment project for phase 3 of the company, Mr. Kim Hyun Ho requested that provincial leaders consider supporting the handling of some obstacles regarding procedures and processes to have more land funds to expand the manufacturing plant and be operational by early 2026.
Discuss with the company's leadership, Mr. Vo Van Minh – Chairman of the PPC congratulated the company on its effective production and business, continuously expanding its scale, and contributing to the socio-economy development of the province. He requested relevant departments and agencies actively contact, exchange information, and remove difficulties for the company to create conditions to promote the implementation of the project as early as planned.
Delegates take a group photo.