“Competition is quite severe”

Hankook Tire, the biggest tire producer in Korea and seventh largest in the world, are planning to build a new tire manufacturing plant in Indonesia and invest total US$1.1 billion in seven years to 2018. Outside South Korea, Indonesia is the third country as a production based for Hankook, beside Hungary and China. As the world’s second largest natural rubber producer, Indonesia with its abundant raw material availability makes it a great place to build tire factory. To find out more about Hankook investment plan in the country here is the short interview with Hyun Bum Cho, executive vice president of Hankook Tire, South Korean company:

Hankook’s new investment plan

Hankook Tire Co Ltd, the biggest tire producer in Korea and seventh largest in the world, are planning to build a tire factory in Indonesia and invest total US$1.1 billion in seven years to 2018. Hyun Bum Cho, executive vice president of Hankook, says the company wants to build a new manufacturing plant in Bekasi, West Java. This expansion will help the company to become the fifth largest tire company in the world.

To attract investment from China

The second week of this month, Bisnis Indonesia journalist Pudji Lestari took the opportunity to participate in the working visit of the Chairman of Indonesia Investment Coordinating Board (Badan Koordinasi Penanaman Modal/BKPM) Gita Irawan Wirjawan to the World Economic Forum on East Asia (WEFEA) in Ho Chi Minh City, Vietnam and the World Expo in Shanghai, China.

The two activities serve as a forum to promote investment opportunities in Indonesia. Here’s the report. For the Head of BKPM Gita Irawan Wirjawan, China is one important country. At least, since serving as head of BKPM about 6 months ago, he was back and forth to the country three times already. During his visit to China this time, the World Expo held in Shanghai became the target of Gita. There, as usual, he held numerous meetings with Chinese businessmen.