Hankook Tire will make a $240-million investment to build the Hankook Tire Test Engineering Center, located in Sangju City, South Korea.
Hankook Tire will make this investment by 2020, when construction of the Hankook Tire Test Engineering Center is expected to be finished. Representatives of the company have already reached an agreement with Sangju City officials. The new R&D facility will be used for the design, production and testing of tires under the same roof.
The Hankook Tire Test Engineering Center will play an important role for the company’s tire technology development. It will also include a top-tier global standard tire testing facility, which will be able to test UHP tires and also perform bus/truck tire tests. The Engineering Center’s test track will provide all weather and road conditions from all over the world, therefore the company will be able to test for each and every market.
Hankook expects to hire 370 engineers at the center, which will also feature a children’s safety experience zone besides the driving center. Over the past year the company has made investments of more than $1.7 billion in technology improvements and new capacities and has also broke ground for a new plant in Chongqing, China, its third plant in the country.