Hankook Tire
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Hankook Tire
Hankook Tire
Public
Traded asKRX: 161390
IndustryAuto and Truck parts
Founded1941; 79 years ago (1941) (as The Chosun Tire Company)
FounderNihon Tire Company
Cho Hong Jai
HeadquartersBundang-gu, Seongnam-si, South Korea
Key people
Cho Hyun Bum (CEO)
RevenueKRW 6,795 billion (2018)
KRW 530 billion (2018)
Number of employees
21,000 Worldwide
Websitewww.hankooktire.com/global
Hankook Tire
Hangul
Hanja
?
Revised RomanizationHangung taieo aen tekeunolloji
McCune-ReischauerHan'gung t'ai? aen t'ek'?nolloji

The Hankook Tire & Technology group (; [ha:n?uk] , "(South) Korea", also known simply as Hankook and stylised n?) is a South Korean tire company. Based in Seoul, the Hankook Tire & Technology group is the seventh largest tire company in the world.[1]

History

Hankook Tire was established by Jae Hun Chung's grandfather in 1941 as the Chosun Tire Company and was renamed to Hankook Tire Manufacturing in 1968. The word "Hankook" literally means Korea, thus Korea Tire Company.

The company now supplies tires as original equipment to various automakers. In addition to producing about 102 million tires annually, 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 a factory in West Java, Indonesia as part of a plan to become the 5th largest tire manufacturer in the world.[2] On June 9, 2011 a ground breaking ceremony was held at a 60-hectare area as a regional hub production for export to Asian, North America and Middle East countries.[3]

In October 2013, the company announced plans to open a new factory in Tennessee.[4]

Facts and figures

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

Global offices

The company has its headquarters in South Korea and has manufacturing facilities in South Korea, the People's Republic of China, Hungary, Indonesia, and the United States. It has technical centers in Daejon, Korea; Akron, Ohio, USA; Hannover, Germany; Osaka, Japan; and China.

In April 2016, the company announced it would move its North American headquarters from Wayne, New Jersey, to Nashville, Tennessee. This move is reported to create up to 200 jobs in Davidson County and the company would be investing $5 million in the process.[5]

Motorsports involvement

Hankook DTM tyres.

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. The company supplied tires for the Primetime Race Group that raced in the GT2 class of the American Le Mans Series in 2008. It 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. It also supplies tires for the Hankook KTR team that races in the Super GT and the Asian Le Mans Series and for the Formula 3 Euroseries.

In rallying, Hankook are the series sponsors of the Scottish Rally Championship.[6] Its tires have been used at the European-based Intercontinental Rally Challenge as well.

Since 2011, Hankook is the official tyre partner for the Deutsche Tourenwagen Masters, one of the world's most popular touring car series.

Hankook sponsored Formula Drift driver Chris Forsberg, a three-time champion (with his most recent championship coming as recent as the 2016 season), until 2018 season.

Hankook will replace Michelin to supply tires to Formula E for its third-generation car, starting in 2022.[7]


Sponsorships

Hankook sponsors Real Madrid,[8]Bundesliga club Borussia Dortmund, and Ligue 1 club AS Monaco FC.[9]

Hankook was once 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 under the brand, Laufenn for the European markets except for the United Kingdom and Republic of Ireland.

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.

As of 2017, Hankook is one of the major sponsors of the Kontinental Hockey League.

Hankook is also involved with simracing, as the main sponsor for Liga ZGT and ApexGT e-Sports, brazilians Gran Turismo Sport Simracing League.

Since 2018, Hankook has been the official tire of Major League Baseball[10] and sponsored the 2020 MLB Wild Card Series.[11]

Since 2019, Hankook is the main sponsor of SVRT, a Gran Turismo Sport SimRacing Team.

Awards

Traditionally, Hankook has applied for international product design competitions. The received awards are widely used in the company's marketing activities, for example, at specialized exhibitions, during training seminars for dealers, in printed catalogs and advertising. Hankook received most of the awards from the German-based organizations International Forum Design and Red Dot.

A list of awards that Hankook consumer tires have received at various times[12]
Tire Competition Award Year
Hankook Optimo 4S H730 iF Design Award Winner 2009
Hankook Winter icept evo W310 Red Dot Design Award Honorable mention 2010
Hankook Ventus S1 evo2 K117 iF Design Award Winner 2012
Hankook Winter icept evo W310 Good Design Awards (Chicago Athenaeum) Good Design Awards 2012
Hankook Ventus V2 concept2 H457 Korean Good Design Award Good Design Awards 2013
Hankook Ventus V12 evo2 K120 Korean Good Design Award Good Design Awards 2013
Hankook Dynapro HP2 RA33 Korean Good Design Award Good Design Awards 2013
Hankook Ventus V12 evo2 K120 Red Dot Design Award Winner 2014
Hankook Kinergy 4S H740 iF Design Award Winner 2014
Hankook Ventus S1 evo2 K117 Good Design Awards (Japan Institute of Design Promotion) Good Design Awards 2014
Hankook Ventus S1 noble2 H452 iF Design Award Winner 2015
Hankook Ventus V2 concept2 H457 iF Design Award Winner 2015
Hankook Smart Flex AH31 iF Design Award Winner 2015
Hankook Winter icept evo2 W320 Red Dot Design Award Winner 2015
Hankook Winter icept evo2 W320 Korean Good Design Award Good Design Awards 2015
Hankook Winter icept evo2 W320 iF Design Award Winner 2016
Hankook Ventus Prime3 K125 Red Dot Design Award Winner 2016
Hankook Smart Flex AH35 Red Dot Design Award Winner 2016
Hankook Kinergy 4S2 H750 iF Design Award Winner 2019
Hankook Ventus S1 evo3 K127 Red Dot Design Award Winner 2019
Hankook Winter icept evo3 W330 Red Dot Design Award Winner 2020
Hankook Winter icept evo3 W330 iF Design Award Winner 2020
Hankook Dynapro AT2 RF11 Red Dot Design Award Winner 2020
Hankook Dynapro MT2 RT05 Red Dot Design Award Winner 2020

Hankook also earned several awards for its concept tires. The latest ones are the Hexonic smart tire for autonomous car sharing and the futuristic Aeroflow racing tire for motorsport competition. In 2019, both tires won the US-based International Design Excellence Awards (IDEA).

References

  1. ^ "The world's largest tire producers in FY 2014, based on tire-related sales (in billion U.S. dollars)". Statistica.com.
  2. ^ Fadillah, Rangga D. (January 20, 2011). "Hankook announces US$353 million investment". The Jakarta Post. Archived from the original on 2011-01-24.
  3. ^ Yulisman, Linda (June 10, 2011). "Hankook to make RI production hub". Retrieved 2019.
  4. ^ "Hankook Tire to invest $800 million to build first U.S. plant". Automotive News. Bloomberg News. October 14, 2013. Retrieved 2019.
  5. ^ "Hankook to invest $5M in HQ move to Nashville (Update)". Tire Business. 2016-04-13. Retrieved .
  6. ^ "SRC homepage". SRC. 2010-11-19. Retrieved .
  7. ^ "Hankook grabs Formula E tyre deal for Gen3". The Race. 2020-07-01. Retrieved .
  8. ^ "Real Madrid present the agreement with Hankook Tire" (Press release). Real Madrid CF. 2016-08-31. Retrieved .
  9. ^ https://www.hankooktire-mediacenter.com/press-release//hankook-tire-france-becomes-sponsor-of-as-monaco/?flt=1&cHash=5fd39091196550b6b6f2996ec14f0ab9
  10. ^ Staff, Tire Review (27 July 2020). "Hankook Tire Presents MLB Marketing Campaign". Tire Review Magazine. Retrieved 2020.
  11. ^ Staff, Tire Review (30 September 2020). "Hankook Tire Sponsors MLB Wild Card Series". Tire Review Magazine. Retrieved 2020.
  12. ^ "About Hankook tires". Autoset.

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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