Kumho Tire Co. is seeking to complete construction of its suspended plant in the United States, according to the company’s head.
In 2009, Kumho Tire broke ground on its first U.S. plant in Georgia, but the construction has since been stalled as creditors placed the key affiliate of Kumho Asiana Group under a debt workout scheme.
"We are clearly committed to entering the U.S.," said Kim Chang-kyu, president and CEO of Kumho Tire. He made the comment during the official opening ceremony of the Kumho’s new research and development center in Yongin, Korea.
Chang-kyu did not give a specific time frame on when to resume the construction of the plant as the decision to restart the stalled project depends on creditors. He noted that the company, however, is sparing no effort to quickly end the debt workout scheme.
If completed, a U.S. plant, could save time and costs for Kumho Tire in providing tires to Hyundai and Kia in the U.S.