Hankook Tire opens office for Austria & Switzerland
Hankook Tire is aiming for a “double-digit” share of the market in Austria and Switzerland, and to help grow the Hankook brand in both countries it has opened a new branch office in Vienna.
Hankook Tire is aiming for a “double-digit” share of the market in Austria and Switzerland, and to help grow the Hankook brand in both countries it has opened a new branch office in Vienna.
As of mid-January 2020, Soo II Lee will become president of Hankook Tire America Corp. He will serve in this capacity alongside his existing remit of president and chief operating officer of Hankook Tire & Technology, an arrangement that will see him split his time between Hankook’s America headquarters in Nashville, Tennessee and the company’s global headquarters in Seoul, Korea.
Audi has released a performance version of its Q8 SUV coupe, and Hankook Tire says it is supplying original equipment tyres. Specifically, the Audi SQ8 TDI will be available with the Hankook Ventus S1 evo 3 SUV and Winter i*cept evo 2 SUV in sizes 285/45 R21 113 Y XL and V XL. A 22-inch fitment of the summer tyre will follow – The SQ8 will receive the Ventus S1 evo 3 SUV in size 285/40 R22.
South Korea’s Yonhap News Agency has reported the indictment of Cho Hyun-bum, chief executive of tyre maker Hankook Tire & Technology. According to Yonhap, prosecutors said yesterday that Cho was indicted for accepting bribes and embezzling corporate funds.
Hankook Tire chief executive Cho Hyun-bum was arrested in Seoul on allegations including bribery and embezzlement on Thursday 21 November 2019, according to local news sources including The Korea Times and Reuters.
Hankook Tire has reported consolidated global sales of KRW 1,833.2 trillion (£1.2 billion) for Q3 2019, a 4.4 per cent increase compared with the third quarter of last year. EBITDA declined 3.2 per cent to KRW 333 billion (£223.0 million), with the margin decreasing 1.4 percentage points to 18.2 per cent. Operating profit amounted to […]
Hankook will serve as the official tyre of Hockey Canada until 2024 thanks to an expansion of the relationship between the association and Hankook Tire Canada. Through the partnership. Hankook Tire’s local operation will support Hockey Canada’s efforts to engage fans and grow the game, participate in its signature events and will act as an international partner at various championships.
A new face at Hankook’s Daventry office. As of 1 October, Chang Yool Han holds the position of managing director at Hankook Tyre UK. He succeeds Brett Emerson, who has returned to Bridgestone as director of its Consumer business unit for the North Region.
Hankook Tire reports that it has been supplying the Porsche Cayenne ex-works with its flagship UHP tyre, the Ventus S1 evo 3 SUV, since June. The mixed fitment sees the Cayenne wear the Ventus S1 evo 3 SUV in size 285/40 ZR 21 (109Y) XL at the front and 315/35 ZR 21 (111Y) XL at the rear.
Winter is on its way, and Hankook Tire has released two new tyres to keep vans on the move in the colder months. The Hankook Vantra ST AS2 is a completely new all-season tyre for vans and light commercial vehicles. Those who prefer a dedicated winter tyre can choose the Hankook Winter i*cept LV.
Hankook Tire has signed a partnership agreement with the Swiss company Kyburz. The first project under this agreement will be to fit Kyburz’s eRod roadster with ultra-high-performance tyres from the Ventus line. The road-legal electric sports car will be equipped with the Ventus V12 evo 2 in size 195/50R15 V. Hankook also becomes the recommended replacement tyre brand for the eRod.
Three Hankook tyre models have been chosen as original equipment for the new Audi Q8. Customers in Europe can receive their crossover fitted with a size 285/45 R21 113 Y XL Ventus S1 evo 3 SUV or, if selecting a winter tyre, the Winter i*cept evo 2 SUV in 285/45 R21 113 V XL. In North America, the Hankook Dynapro HP 2 Plus will be an original equipment tyre for the Audi Q8 in sizes 275/50 R20 113H X, 285/45 R21 113H XL and 285/40 R22 110H XL. Hankook Tire reports that further dimensions will follow.
News reports from Hungary suggest Hankook Tire has put on hold plans to set up a truck tyre production unit at its Rácalmás plant. English-language publication the Budapest Business Journal writes that fellow business daily Világgazdaság shared this news with its readers yesterday.
Hankook Tire is an International Design Excellence Awards (IDEA) 2019 ‘Finalist’ in the automotive and transportation category. It has gained distinction thanks to its Hexonic and HLS-23 concept tyres.
In reporting its financial results for the second quarter and first half of 2019, Hankook Tire notes that the six months to 30 June were punctuated by uncertainty within the global tyre market. Challenges faced by many tyre makers include declining vehicle sales, anti-dumping duties and uncertainty caused by US-China trade tensions. Hankook specifically battled high fixed costs during a low demand cycle, a relatively high dependency on China for both production and sales, and issues with stabilisation at its 2017-opened plant in the USA.
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