Governor of Louisiana visits Kumho Tire HQ in Seoul
Hyung-Kyu Kim
Mar 14, 2023 (Gmt+09:00)
Louisiana Governor John Bel Edwards (left) and Kumho Tire CEO Jung Il-taik South Korea's leading tire manufacturer Kumho Tire Co., Inc. announced on Monday that Louisiana Governor John Bel Edwards visited its headquarters in Seoul's downtown on Mar. 10 to request further expansion of cooperation.
The Asian trade delegation led by the governor held a meeting with Kumho Tire executives, including CEO Jung Il-taik, to express gratitude for the tire maker's participation in the Louisiana logistics project in January this year and to seek ways for collaboration.
Kumho Tire plans to complete the construction of a distribution center with a total floor area of 32,512 square meters in Franklin, a small town near New Orleans, by 2026. The primary objective of the center is to expand sales in the US market, which is the largest market for Kumho Tire, accounting for over 30% of the company's sales as of the third quarter of last year.
The distribution center is expected to become a global logistics hub that stores up to 500,000 tires manufactured by Kumho Tire at its Georgia plant, which has an annual production capacity of up to 4.5 million units. It will also import natural rubber and other raw materials.
"We will continue to achieve growth by increasing sales in the US, the world's largest tire market," said CEO Jung.