Hankook Tire’s Korean Plant Fire Threatens a Fifth of Company’s Global Capacity

Korea’s top tire maker shut the Daejeon complex that manufactures 20 mn tires a year and exports 65% of its products.

South Korea’s top tire maker Hankook Tire & Technology Co. shut down a local production complex on Sunday due to a fire, stoking concerns over its earnings as it has lost a fifth of its global capacity.

A fire at 10:09 p.m. Seoul time on the day hit the second plant of Hankook’s complex in Daejeon, about 150 kilometers south of Seoul, the company and local firefighting agency said on Monday. The blaze was presumed to have started from a tire-shaping machine at the plant where flammable materials are stored, according to them. …

Source: KED