Kolon Industries building tyre cord plant in Vietnam
South Korea’s Kolon Industries has signed a memorandum of understanding with the government of Vietnam’s Binh Duong province regarding the set-up of a tyre cord factory in the region. At the ceremony on 23 November, Kolon Industries also announced its entry into a land lease contract with Vietnamese investment and development corporation Becamex IDC, under which the Korean firm will lease a 42-hectare site in Becamex IDC’s Bau Bang Industrial Park.