Kumho Tire signs the grant agreement for its first European factory in Opole with DZP’s support

DZP has advised Kumho Tire on the conclusion of a grant agreement providing state aid for the construction of the company’s first European tyre manufacturing plant in Opole, subject to notification to the European Commission.

The agreement was signed under the Polish government’s Programme for Supporting Investments of Major Importance to the Polish Economy for 2011–2030.

The conclusion of the agreement marks another important milestone in Kumho Tire’s investment, valued at more than PLN 2.27 billion. The project is expected to create 400 new jobs.

DZP has been supporting Kumho Tire in connection with the broader legal framework of the investment. Further information about the project and the scope of DZP’s involvement is available in our previous announcement.

The new facility will be located in the Wałbrzych Special Economic Zone in Opole-Wrzoski. It will be Kumho Tire’s first production plant in Europe and an important element of the South Korean tyre manufacturer’s international growth strategy.

The Opole plant will manufacture premium tyres, including high-performance and large-inch models intended for leading automotive brands.

DZP’s advice in relation to the grant agreement was provided by Tomasz Zielenkiewicz and Aneta Włoszek from the state aid and transport team. The client relationship was led by Marcin Krakowiak, Partner and Head of the Infrastructure and Energy Practice, and Soo Youn Kim, Head of the Korean Desk.