Hankook cautious on Vietnam option

ERJ staff report (DS)

Seoul, Korea -- further to press reports earlier this week, Hankook expressed caution about press reports that it plans to build a tyre plant in Vietnam. The company said it held a round table for journalists and mentioned plans to increase production capacity in the next few years.

The company said it has many options for increasing capacity, including acquisitions, expansions or new factories. Certain journalists, it added, focussed only on the option to build a new plant and placed too much emphasis on the company's responses to hypothetical questions about where such a plant could be located.

Hankook said building a plant in Vietnam is certainly an option for the future, but only one option among many possible options of capacity expansions, acquisitions, new plant locations and suchlike.

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Press report from Oct 22 (Please note, Hankook has said this report is misleading)