World's largest tire cord maker Seoul based Hyosung Corp.will supply tire cords worth $3.2 billion to the Goodyear Tire & Rubber Co.

Hyosung said in a statement "The supply contract would push up Hyosung's global market share to 30% from the current 25%, which strengthens its No 1 position in the global market."

This is seen as a move to expand its North American foothold after taking over 4 tire cord plants in the US, Brazil and Luxemburg. Industry watchers believe that Hyosung's recent global expansion and mammoth deals with major tiremakers would further rev up its sales in the coming years.