| Type | Public (traded on the Korea Stock Exchange) |
|---|---|
| Industry | Tire manufacturers |
| Founded | 1941 |
| Headquarters | Seoul, South Korea |
| Key people | CEO Seung Hwa Suh |
| Revenue | 4,461,209 (Unit: in Millions of Won - 2008) |
| Net income | 23,543 (Unit: in Millions of Won - 2008) |
| Employees | 5,512 (non-consolidated) in Korea, Worldwide 14,000 |
| Website | http://www.hankooktire.com |
| Hankook Tire | |
|---|---|
| Hangul | 한국타이어 |
| Hanja | 韓國타이어 |
| Revised Romanization | Hanguk Taieo |
| McCune–Reischauer | Han'guk T'aiŏ |
The Hankook Tire[1] group, based in Seoul, South Korea is the eighth largest tire company in the world.[2] Established in 1941 as the Chosun Tire Company, it was renamed 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 the Hyundai Motor Company, Toyota Motor Corporation, Ford Motor Company trucks, General Motors trucks, International Truck and Engine Corporation, and others. 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 $353 million to build factory in West Java, Indonesia as part of a plan to become the 5th biggest tire manufacturer in the world.[3] In June 9, 2011 a ground breaking ceremony has been held at 42-hectare area as a regional hub production for export to Asian, North America and Middle East countries.[4]
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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) "Hankook" means "Korea" in Korean.
These are quoted from Hankook's European website.
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.
The company has its main office in South Korea, and has manufacturing facilities in South Korea, China, and Hungary.
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.[7] Their tires have been used at the European-based Intercontinental Rally Challenge as well.
From 2011, Hankook will be the official tire supplier for the Deutsche Tourenwagen Masters.
Hankook is also the major sponsor of the Melbourne Football Club in the AFL.
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