According to media reports, in order to accelerate the development of tire technology, Hankook Tire plans to establish a new R&D center in Daejeon, South Korea.
Hankook Tire did not announce the construction costs of the new R&D center and the size of the employees it plans to recruit. It only stated that the center is expected to be operational by the end of 2015, and Hankook Tire’s 2011 financial report shows that the company plans to invest US$133 million in Relocation and reconstruction of the main R&D center.
Hankook Tire has R&D centers in Daejeon, South Korea, Ohio, USA, Hanover, Germany, Jiaxing, China, and Osaka, Japan. The company spent US$106 million on research and development in 2011, which accounted for 1.8% of its sales in the current year.
Hankook Tire said: "The new R&D center will accelerate the speed of launching new tires with more advanced performance to meet customer demand for high-quality tire products." The company also recently announced the expansion of its European R&D center.
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