Since Hankook Tire started operation in Sep. 2012 in Chongqing, the tire producer has invested 700 million US dollars in the city, with annual capacity of 6 million passenger car tires and 800,000 truck tires.
The growing up of Hankook Tire is only one page of the story for the development of Republic of Korea-based companies in Chongqing.
Beijing Hyundai's Chongqing base was established in Jul., and the stamping, soldering, coating and assembly workshops have realized 100% automation.
Lang Jiawei, head of the production department of Beijing Hyundai, said highly intelligent production mode of the Chongqing base helps meet various demands of customers and further improve the quality and efficiency.
Moreover, leading Korean auto parts producer Mobis has also gone into operation in Chongqing Liang Jiang New Area.
Settling down of Mobis, Hankook Tire, and Pohang Iron and Steel in Chongqing reflected their optimistic attitude towards the opening up of the city as well as the outlook of Chongqing's automotive industry, said an official with Chongqing Liang Jiang New Area.
Statistics released by Chongqing Commerce Commission show that in the first 10 months of this year, the import and export value between Chongqing and RoK totaled 4.3 billion US dollars, up 25.9% year on year.
Chongqing's export value to RoK reached 1.64 billion dollars, up 18.7%; and the import value was 2.66 billion dollars, up 30.8%.
In the first 11 months, Chongqing government approved 21 RoK investors, with investment of 628 million dollars.
By the end of Nov., the city accumulatively approved 255 Korean investors, with total investment of 3.25 billion dollars.
As more Koreans live in Chongqing Liang Jiang New Area, it is constructing a China-RoK Industry Park.
