Hankook Tire has announced plans to move its North American headquarters to Nashville.

The announcement was made Wednesday morning by Governor Bill Haslam and Community Development Commissioner Randy Boyd, along with Hankook Tire America Corp officials.

“By choosing Nashville for the location of its North American headquarters, Hankook Tire continues to help make our state known as a worldwide leader in the automotive sector,” Haslam said.

The $5 million investment was expected to create up to 200 jobs in Davidson County, and is the Korean company's second facility in Tennessee.

Wednesday, U.S. Senator Lamar Alexander released the following statement:

“Hankook’s decision to relocate its headquarters to Nashville is further proof that Tennessee, with its first-rate four-lane highway system, right-to-work law, and skilled workforce, is the right place for the auto industry. I congratulate Hankook Tire and Gov. Haslam on today’s great news for Nashville.”

In 2014, Hankook broke ground on an $800 million plant in Clarksville.

