The European Commission has approved state aid amounting to EUR 71.6 million for a major project by the South Korean tire manufacturer Hankook. The company is investing a total of EUR 538 million at its site in Rácalmás (Fejér County).
The investment will establish new production lines for manufacturing truck and bus tires. Hankook is thereby expanding the product portfolio of its Hungarian plant, which until now had focused on tires for passenger cars, vans, and light trucks. The project will create 470 additional jobs at the site.
Brussels considers the state support granted for the project to be proportionate in promoting economic development in the region and strengthening competitiveness.
The plant, which has been operating for nearly two decades, has gradually expanded its capacity to 19 million tires per year. From 2027 onward, the new production line for truck and bus tires is expected to manufacture up to 800,000 units annually.