Report: Hankook Considering Formula One Supply
Hankook Tyres is reportedly planning to supply its tyres to Formula One racing teams “within a few years.” The Australian Brisbane Times quotes Hankook executive vice president, Hyun Bum Cho, as saying: “In the future we want to have some hefty market share in that [racing] segment. It’s quite profitable…but in order to really leverage from motorsports in terms of brands, you need to participate in either World Rally Championship or a very high segment in Le Mans, or Formula One…So in the future that’s the target that we have, to participate in those segments.”