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Korean firm expands tire cord plant in Vietnam
09:39 | 13/01/2021
Kolon Industries tire cord plant in Vietnam. (Photo courtesy of the company)
Seoul – Kolon Industries, an industrial materials producer of the Republic of Korea (RoK), on January 12 said it will expand its tire cord plant in Vietnam to increase exports from the Southeast Asian country, the Yonhap News Agency reported.
The company will invest 68 billion KRW (62 million USD) in its wholly-owned Kolon Industries Binh Duong Company Ltd. to help the Vietnamese subsidiary expand the plant by September next year.
Tire cords are used as reinforcing materials for tires, designed to keep tires in shape and to enhance durability. ....

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