Kumho Tire Vietnam Co., Ltd. is all set to expand its investment project in Binh Duong province of Vietnam, with the phase 3 of expansion commencing in early 2025. This was discussed at a recent meeting between Vo Van Minh, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee (PPC), and Kim Hyun Ho, General Director of Kumho Tire Vietnam Co., Ltd.

The meeting was held on 13 November at the Administrative Centre of Binh Duong province, as per an official statement. Apart from the company’s investment till date and the planned investment for phase 3, the two also discussed about the challenges and obstacles regarding procedures and processes to have more land funds to expand the manufacturing plant, along with taking measures to tackle the obstacles. Kim Hyun Ho also conveyed to the PPC Chairman that Kumho Tire Vietnam Co., Ltd. belongs to South Korea's Kumho Tire Group and is currently ranked 10th in the car tyre manufacturing industry.

The company had invested in a tyre manufacturing plant in My Phuoc 3 Industrial Park in 2007 with a total initial investment of USD 308 million, which was supplemented by another USD 300 million in 2021. This extended the factory scale to six hectares and increased the production capacity to 12.5 million tyres annually. With the expansion in early 2025, the company will raise its total investment to USD 908 million and increase the factory's production capacity to 17 million tyres annually. The expanded capacity is expected to be operational by early 2026.

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Yokohama Rubber Co., Ltd. has been recognised as a Supplier Engagement Leader in CDP's 2024 assessment, achieving the highest rating for its efforts in collaborating with suppliers to address climate change.

CDP, a global environmental nonprofit, evaluates companies based on governance, targets, Scope 3 emissions, risk management and supplier engagement. This marks Yokohama Rubber’s third consecutive year and sixth overall time receiving top honours in CDP’s climate change evaluation.

Committed to achieving net-zero CO₂ emissions from its operations by 2050, the company has actively worked to reduce its environmental impact across the supply chain. Since 2013, it has disclosed Scope 3 emissions and implemented the Yokohama Green Procurement Guidelines to encourage sustainable material sourcing. Through annual CSR briefings, Yokohama Rubber engages suppliers in its carbon neutrality initiatives, fostering cooperation to lower emissions throughout the supply chain.

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Hankook Tire has published its 16th annual ESG Report for 2024/25, detailing its sustainability achievements and future strategies aligned with its global ESG vision focused on Eco Value Chain, Sustainable Products and Responsible Engagement. The report adopts a comprehensive framework that evaluates social, environmental and financial impacts in line with the European Sustainability Reporting Standards (ESRS), emphasising enhanced biodiversity disclosures compliant with international guidelines like the TNFD.

Key focus areas include eight major management priorities such as climate action, resource efficiency, human rights and innovation. Hankook Tire is also strengthening its response to global ESG regulations, including the EU Deforestation Regulation (EUDR), through a dedicated committee overseeing natural rubber supply chain management.

To support sustainable growth, the company has an ESG Committee under its Board of Directors, operational since 2021. It is also driving circular economy initiatives, such as commercialising Korea’s first tyre using chemically recycled PET fibre and mass-producing EV tyres with 77 percent ISCC PLUS-certified sustainable materials.

Beyond environmental efforts, Hankook Tire engages in social initiatives, including biodiversity conservation, employee development and community partnerships. Its long-term commitment to sustainability dates back to 2009, with milestones like the 2018 sustainable rubber policy and the 2023 board performance evaluations to enhance governance transparency.

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ZC Rubber has successfully commenced production of its first all-terrain vehicle (ATV) tyre at its Indonesian subsidiary, PT. Matahari Tire Indonesia (MTI), marking a strategic expansion into specialised mobility segments.

MTI’s state-of-the-art factory, covering 500,000 square metres, is strategically located in a region rich in natural rubber resources. Equipped with advanced digital technology and staffed by a highly skilled workforce, the facility is poised to meet the growing demand for high-quality tyres in both local and international markets, including the United States.

ZC Rubber’s investment in Indonesia provides access to vital raw materials and strengthens its global supply chain. The facility is poised to serve both local needs and support ZC Rubber’s international market expansion, reinforcing the company’s commitment to innovation, quality, and sustainable development.

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South Korean tyre maker achieves second consecutive quarterly revenue record despite raw material pressures

South Korean tyre manufacturer NEXEN TIRE reported record quarterly revenue for the second consecutive period on Thursday, posting consolidated sales of 804.7 billion won in the second quarter as increased European production capacity and recovering US demand offset global automotive sector uncertainties.

The company’s operating profit reached 42.6 billion won in the three months to June, remaining stable from the previous quarter despite ongoing pressure from elevated raw material costs that began in late 2024.

The strong performance was primarily attributed to enhanced production following the completion of Phase 2 expansion at NEXEN TIRE’s Czech Republic facility, combined with targeted regional sales strategies that secured key supply volumes across both original equipment and replacement market segments.

US sales strengthened further in the second quarter, building momentum from the first-quarter recovery after experiencing a temporary decline in the latter half of 2024. Expanded retail distribution partnerships supported the improvement, the company said.

In the Asia-Pacific region, Australia and Japan delivered record sales volumes, driven by continued investment in distribution network development.

Ocean freight costs provided some margin relief, though the company continued to face headwinds from raw material price increases that began in late 2024. However, NEXEN TIRE expects improved profitability in the second half as key input costs have been trending downward since early 2025.

During the first six months of 2025, the tyre maker began supplying original equipment tyres for 11 vehicle models, including the Hyundai NEXO, Kia EV4 and TASMAN, whilst deepening partnerships with global automakers, including premium brands.

The company said it would implement gradual price adjustments in the US market in response to recent tariff policy changes, focusing on expanding high-margin products and strategically reallocating global supply volumes to mitigate profitability risks.

“Despite persistent macroeconomic challenges, NEXEN TIRE achieved record-breaking sales for two consecutive quarters by maintaining balanced growth across both OE and RE segments,” said Chief Executive John Bosco (Hyeon Suk) Kim. “We will continue to reinforce our global competitiveness through strategic partnerships and region-specific initiatives.”

NEXEN TIRE has been building brand awareness through localised marketing efforts across North America, Europe, the Middle East, and the Asia-Pacific regions whilst expanding its retail presence through strategic distributor partnerships.

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