Is rubber giant Hankook Tire making tracks for Poland?

South Korean rubber giant Hankook Tire is currently considering constructing a production plant in Central Eastern Europe. Yesterday's issue of Korea's Maeil Business Newspaper identified Poland as one of the front-runners for the $1 billion project. The paper’s story is reportedly backed by company president Cho Choong Hwana. It is estimated that construction of the plant would take two to three years. Michelin holds a 2.2% stake in Hankook Tire, which is the world's ninth largest tire manufacturer. The enterprise already has four production facilities, two in China and two in Korea. But company policy requires investment to follow its main customers and it's thought that Hyundai's recent decision to open a plant in Slovakia is the most likely reason for the move. (Parkiet, p. 8) A.K.