Hankook Tire plans to build a new tire plant in the state of Tennessee in the US.
According to industry sources on October 10, Hankook Tire has decided to set up a plant near the state capital Nashville. The negotiations are in the final stages, and the agreement will be made by next week.
If all goes ahead as planned, the plant will be the eighth in the US for the Korean tire manufacturer.
Last year, Hankook Tire announced a plan to build a tire plant capable of producing 10 million tires a year. Since then, the company has looked for a site in the states of Georgia, South Carolina, and Tennessee.