Hankook Tyres

Hankook is one of the largest tyre manufacturers worldwide, manufacturing a full range of passenger, high-performance radials, light truck and SUV tyres, as well as winter radials, Original Equipment, medium truck and bus tyres. Hankook products are sold in over 200 countries worldwide. The parent company, Hankook tyre Co. Ltd. is based in Seoul, Korea.

Hankook is a market-driven technology company with Research and Development facilities in Asia, Europe and the United States, and manufacturing plants located in South Korea and China. Hankook also operates distribution centres worldwide.

Hankook has an aggressive Original Equipment programme, enjoying OE relationships with some of the most respected auto manufacturers in the world.

Through sales in 170 countries around the world, Hankook Tyre is ranked 7th in global sales revenue. The company has more than 12,000 employees in 5 Regional HQs, 9 Sales Offices, 11 Subsidiaries and 5 R&D Centres around the world and makes 70% of revenue through overseas markets.

Back in 1941, Hankook  tyre was founded on principles that stressed the need to advance human safety and the quality of life. The company remains committed to customer satisfaction today, applying quality and technology to offer its special brand of value to customers in over 170 nations. Hankook  tyre produces were recommended most highly in 2003 tests by Allgemeine Deutsche Automobil-Club (ADAC), an independent association open to all motorists and persons interested in traffic and transport matters, and by Auto Bild, the most widely circulated magazine serving German car owners.

Importantly, the company has managed to grow steadily at a time when the industry as a whole has faced great difficulty. Hankook supplies Original Equipment (OE)  tyres to such big name automakers as Ford and Volkswagen, and the company's two subsidiary plants in China (at Jiaxing and Jiangsu) were operating in the black within two years of startup. Moreover, a strategic partnership agreement finalized with Michelin last year will allow Hankook to rise still further the ranks of  tyre industry.

Hankook management is aiming to become the world's fifth largest  tyre maker and one of Korea's leading companies. An aggressive globalization strategy is being implemented in every operational division.

Hankook  tyre sold  tyres worth US$100 million to a number of world-leading automakers in 2005. As our cutting edge technologies have gained greater recognition in the U.S. market and as several automakers have chosen us as their major  tyre supplier, they expect to see increased sales of replacement  tyres as well as enhanced brand awareness and trust. they currently supply to and are in negotiations with global automakers such as General Motors, Chrysler, Toyota and others to supply original equipment (OE)  tyres. they will continue to put all of our efforts into expanding Hankook  tyre's share of the OE market.

Since 1999, Hankook tyre has supplied  tyres to Ford Motor Company, the world's second largest automaker. Since acquiring a ‘ Q1-Award ' in 2000 from the U.S.-based Ford Motors, they have expanded our volume of  tyre sales to the automaker. In 2003, they signed a contract for the annual supply, until 2008, of 550,000  tyres to Ford, for the company ' s “ F-150 ” model. In 2004, they entered into a five-year agreement to supply 380,000  tyres per annum for the Ford “ Econoline E-350. ” Furthermore, they signed a contract and supplied our first ultra high performance  tyre for the “ Mondeo, ” a model manufactured by Ford Europe. In 2003, they began the supply of 50,000 Temp  tyres and in 2004, expanded our supply of UHP  tyres to reach sales of 170,000  tyres to Ford each year. All in all, by 2004, Hankook  tyre had supplied 1.78 million  tyres worth US$70 million per year to the Ford Motor Company.

In 2006, they entered into an agreement with Volkswagen to supply one million  tyres worth US$25 million annually, including UHP models, for the Golf, Caddy and Polo vehicles, which are manufactured at seven plants across the European continent. The Golf, in particular, is one of the German automaker ' s most popular models with sales of 500,000 units annually, the largest number of sales for a single model of car in Western Europe.

Starting in 2005, they began the supply of  tyres to General Motors (GM) for the Saturn ION model and expect an increase in transactions with the U.S. automaker in the future.

Having entered into an agreement with French carmaker, Renault in 2003, they supply 150,000  tyres annually for the ‘ Kangoo, ' one of Renault ' s most popular models. The ‘ Kangoo ' sells more than 500,000 units every year in France, and Hankook  tyre exports  tyres worth approximately US$1.9 million to meet this demand.

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