HS Hyosung Advanced Materials will establish its first tire cord manufacturing plant in India with an investment of USD 30 million (approximately KRW 43 billion). The project involves setting up a new subsidiary, HS Hyosung India Private Limited, and constructing a dedicated production facility in the Nagpur Industrial Complex in Maharashtra. The company aims to strengthen its position in the global polyester tire cord market by adding India as a strategic manufacturing base.
The investment is intended to support rising global demand for polyester tire cords and to diversify the company’s production footprint. India has emerged as the world’s third-largest automobile market, driven by infrastructure expansion and growth in logistics activity, resulting in increasing local requirements for tire components. The planned unit is expected to help the company build a stable supply chain for domestic customers and improve responsiveness to market developments.
The company has secured a 230,000 square metre site in the Nagpur Industrial Complex and plans to complete plant construction by 2027. The facility will focus on polyester tire cord production for the Indian market, with provisions for future expansion into related product categories such as airbag fabrics.
Tire cords are reinforcement materials used within automobile tires to improve durability, safety, and driving performance. HS Hyosung Advanced Materials has long been active in the segment, supplying polyester tire cords to global manufacturers and maintaining extensive technical collaborations with customers through joint research and development. The company offers product variants designed for emerging mobility requirements, including high-strength tire cords aimed at lightweighting and high-modulus tire cords intended for enhanced performance.
The planned India facility will add to the company’s existing manufacturing operations in Vietnam, China, and the United States, forming a network of production bases serving major global tire manufacturers. The company’s global manufacturing network supplies critical materials such as tire cords and airbag fabrics to major automotive OEMs like Hyundai, Toyoda Gosei, Goodyear, Continental, and Hankook, all of whom have manufacturing operations in India. This indicates both direct and indirect integration of Hyosung’s advanced materials into the Indian mobility supply chain.
HS Hyosung Advanced Materials maintains a strategic presence in India through two wholly owned subsidiaries — Hyosung Corporation India Private Limited and Hyosung India Private Limited. During the reporting period of January to September 2025, Hyosung Corporation India generated sales of KRW 33,159 million (approximately USD 25.5 million) and recorded KRW 794 million (approximately USD 0.6 million) in related-party purchases, while Hyosung India reported KRW 314 million (approximately USD 0.24 million) in sales and KRW 1,445 million (approximately USD 1.1 million) in purchases.
HS Hyosung Advanced Materials is engaged in the production of industrial textile materials, including polyester tire cords, aramid fibres, and technical fabrics used in automotive and industrial applications.
