Hankook Tire

The Hankook Tire group, based in Seoul, South Korea is the seventh largest tire company in the world [1]. 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 Ford Motor Company, General Motors, International Truck and Engine Corporation, and others. In addition to producing about 50 million tires per annum, the company also sells batteries, alloy rims, and brake pads.

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Facts and figures

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 billion /(approx. € 96 million)
• Employees worldwide: 4,422 permanent staff
• Market presence: At present, Hankook tires are available in over 170 countries.
  
• Production locations:
  • Geumsan plant, South Korea
  • Daejon plant, South Korea
  • Jiangju plant, PR China
  • Jianxing plant, PR China
  • Hungary Plant, Dunaujvaros Hungary (started production in 2007)

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 Battery
• Dynapro MT
• Ice Bear W300

Global offices

The company has its main office in Korea, and has manufacturing facilities in Korea, China, and Europe.

Hankook controversy in Hungary

Hankook received more than $10 million from the Hungarian government to create jobs. Hankook for the second time however breached various parts of the labour law and regulations. They have been fined $40,000 and $80,000.

See also

• Economy of South Korea
• List of Korea-related topics
• Hankook Tire Group