Kumho Locates its China Headquarters in Tianjin

TIANJIN, China, June 27, 2005; South Korea-based Kumho Group recently announced plans to invest US$20 million in the Tianjin Economic and Technological Development Area (TEDA) in order to set up a development center with 300 senior researchers. Thus, the future Tianjin Kumho Tire Co., Ltd will be developed into a headquarters of Kumbo's overseas production bases, combining tire research, development and marketing.

With an investment of US$185 million for the first phase, Tianjin Kumho Tire Co., Ltd, focusing on the production of radial tires, is expected to manufacture 5.25 million tires per year. An additional US$130 million will be invested in the phase two, enabling its final capacity to reach 10.40 million tires per year. The project covers a total area of about 310,000 square meters. The Phase I facilities, with a construction area of some 140,000 square meters, will be put into operation in July 2006.

Tianjin Kumho Tire Co., Ltd will offers products to vehicle manufacturers in northern China and agents in North and Northeast China. It will adopt internationally advanced production technologies, equipment and anti-pollution measures, ensuring all pollution emissions meet the environmental protection standards of Tianjin and China, in a move to develop itself into a ''green enterprise'' within the tire industry.

A Brief Introduction to Tianjin Economic-Technological Development Area

Tianjin Economic-Technological Development Area (abbreviated to TEDA, with ''Taida'' as its Chinese transliteration) was established in 1984, upon the approval of the State Council of the People's Republic of China. It was one of the first state-level economic and technological development zones in the country.

Located in the centre of the Circum-Bohai economic circle and in the east of the Eurasia continental bridge, TEDA is a portal to such two metropolises as Beijing and Tianjin and a vital passage to Northeast China. So far over 3,300 overseas-founded companies have settled in TEDA. Among them 93 are founded by 44 corporations of the Fortune Global 500 like Motorola, Samsung, Toyota Motor, etc. In 2000, TEDA was acclaimed by Fortune of U.S. as ''the most admired industrial park of China.'' In 2002, it was elected by the United Nations Industrial Development Organization (UNIDO), along with five other Chinese cities and areas including Shenzhen, Suzhou, Pudong New Area of Shanghai, etc., ''the most dynamic regions of China.''

For more information, please visit: http://www.investteda.org/ .