Seung Hwa Suh, Hankook, and Bill Haslam, Tennessee GovernorUS – The company expects to produce 11 million tyres per year from its first USA plant to provide additional capacity for its growing business in the market. Hankook Tire plans to break ground on the $800m investment by the end of 2014, with operations scheduled for 2016.

Tennessee was selected as a location for its extensive transport links, including regional access to the Mississippi River inland waterway, says the company.