Hankook Tire

May 19, 2003

Hankook Tire

Hankook Tire
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Template:Infobox Korean name The Hankook Tire group (/ˈhæŋkʊk/; Template:IPA-ko "(South) Korea") is a South Korean tire company. Based in Seoul, South Korea, the Hankook Tire group is the 7th largest tire company in the world.

History

Hankook Tire was established in 1941 as the Chosun Tire Company. It was renamed to Hankook Tire Manufacturing in 1968.

Hankook Tire's worldwide reputation has largely grown due to its radial tire and bias-ply tire production. The company now supplies tires as original equipment to various automakers. In addition to producing about 50 million tires per annum, the company also sells batteries, alloy wheels, and brake pads.

Hankook Tire Co. has announced that the company will invest $1.1 billion to build factory in West Java, Indonesia as part of a plan to become the 5th biggest tire manufacturer in the world. In June 9, 2011 a ground breaking ceremony has been held at 60-hectare area as a regional hub production for export to Asian, North America and Middle East countries.

In October 2013, the company announced plans to open a new factory in Tennessee.

Facts and figures

According to Modern Tire Dealer, Hankook's new tire sales for 2007 were $3.5 billion, a 20.7 percent Year-over-Year increase from 2006 ($2.9 billion)

These are quoted from Hankook's European website.

• Sales: US$ 1,620 million /(approx. € 1,286 million)
• Export portion: US$ 700 million /(approx. € 556 million)
• Earnings before taxes: Won 101,5 million /(approx. € 96 million)
• Employees worldwide: 4,422 permanent staff
• Market presence: At present, Hankook tires are available in over 170 countries.
• Production locations:
  • Geumsan, South Korea
  • Daejeon, South Korea
  • Jiangsu, China
  • Jiaxing, China
  • Dunaújváros, Hungary (started production in 2007)
  • Bekasi, West Java, Indonesia ($353m plant is under construction)

Through sales in more than 180 countries around the world, Hankook Tire is ranked seventh in global sales revenue.

The company has more than 14,000 employees in four regional headquarters, more than 20 overseas subsidiaries and five research and development centers around the world, and makes 70 percent of its revenue through overseas markets.

Products

• Optimo Plus
• Optimo Classic
• Optimo Gold
• Optimo Green
• Opti Super
• Ventus
• Mileage Plus
• Sprinter
• Sprinter Ace
• Aurora
• Nordik
• Black Bird
• Hanta Brake Lining & Pad
• Atlas BX Battery
• Dynapro MT
• Dynapro ATM
• Ice Bear W300
• I*Cept Evo

Global offices

The company has its headquarters in South Korea, and has manufacturing facilities in South Korea, the People's Republic of China, and Hungary.

Motorsports involvement

Hankook entered motorsports in Europe, North America, and in Asia. They signed with FBR (Farnbarcher Racing) to race a Ferrari F430 GT with Hankook Tires in the 2009 Le Mans Series season. They supplied tires for the Primetime Race Group that raced in the GT2 class of the American Le Mans Series in 2008. They supplied tires from 2007–2009 for IMSA Prototype Lites, a support series for the American Le Mans Series. Since 2009, the Hankook Team Farnbacher has competed in the GT class of the Le Mans Series. They also supply tires for the Hankook KTR team that races in the Super GT and the Asian Le Mans Series.

In rallying, Hankook are the series sponsors of the Scottish Rally Championship. Their tires have been used at the European-based Intercontinental Rally Challenge as well.

Since 2011, Hankook is the official tire supplier for the Deutsche Tourenwagen Masters, one of the world’s most popular touring car series.

Sponsorships

Hankook sponsors Bundesliga club Borussia Dortmund

Hankook sponsors Bundesliga club Borussia Dortmund.

Hankook is also the major sponsor of the Melbourne Football Club in the Australian Football League.

Hankook sponsors the English rugby union team Northampton Saints.

Hankook sponsors the New Zealand Super Rugby team the Crusaders

Hankook is one of the sponsors of the UEFA Europa League.

Hankook is also involved in drifting sponsorship in a number of countries , most notably in North America in the Formula D championship and in Ireland in the Prodrift championship.

Hankook is the official tire supplier of the reality TV series Car Warriors.

See also

• Economy of South Korea
• Index of Korea-related articles

External links

• Hankook Tire Korean & English website
• Hankook Tire USA website
• Hankook Tire in compare
• Hankook Tire Japan website
• Hankook Tire Poland website

Template:Automotive industry in South Korea Template:KRX 100 companies