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You are here: Home1 / South Korea

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USA approves anti-dumping duties on tyres from 4 countries

International News

Anti-dumping duties as high as 98% may be applied to passenger vehicle and light truck tyres entering the USA from South Korea, Taiwan, Thailand and Vietnam. The U.S. Department of Commerce announced on 30 December that it will instruct U.S. Customs and Border Protection to collect cash deposits from importers of these products.

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Related news:

  1. USW files anti-dumping petitions against Korea-, Taiwan-, Thailand- and Vietnam-made tyres
  2. USA sets final duties on CV steel wheels from China
  3. Chinese truck/bus tyres: US court partially rejects determination
  4. US market receives first Magna OTR tyre production from Thailand
4th January 2021/by Stephen

Hankook Tire shares update on risk detection tech development

International News

Hankook Tire has released a video that explains its work on pre-emptive road risk detection technology in collaboration with data and technology company SK Planet. The result of this joint effort is the Road Hazard Prediction & Detection Solution.

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Related news:

  1. Hankook Tire signs MoU with leading Korean fleet management firm
  2. Hankook Tire CEO Cho receives suspended prison sentence
  3. Hankook introduces AI for ‘smarter’ tyre inspection
  4. Hankook Technodome gains ISO/IEC 17025 certification
2nd December 2020/by Stephen

Hankook and Hyundai sign Driving Experience Center MOU

Company News, International News
Hankook Tire’s Taean Tire Proving Ground in South Chungcheong Province will be completed in the first half of 2021 (Photo: Hankook)Hankook

On 17 June 2020 Hankook Technology Group vice chairman and CEO Hyun Shick Cho and Hyundai Motor Group executive vice chairman Euisun Chung hosted a signing ceremony related to construction of the HMG Driving Experience Center at Hankook Tire’s new Taean Proving Ground.

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Related news:

  1. Hankook Tire signs MoU with leading Korean fleet management firm
  2. France and Iran sign tyre technology exchange MoU
  3. Hyundai, Ulsan – The largest car factory in the world
  4. Korean OEMs switching to European tyre brands
22nd June 2020/by Chris

USW files anti-dumping petitions against Korea-, Taiwan-, Thailand- and Vietnam-made tyres

Company News, International News

In the USA the United Steelworkers (USW) union has filed antidumping (AD) and countervailing duty (CVD) petitions on dumped and subsidized passenger vehicle and light truck (PVLT) tyres with the Department of Commerce and the International Trade Commission

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Related news:

  1. USA: No antidumping and countervailing duties on Chinese truck & bus tyres
  2. Chinese truck/bus tyres: US court partially rejects determination
  3. US imposes Chinese tyre import tariffs
  4. Show review: Reifen China 2014
18th May 2020/by Chris

Hankook loses holding company naming dispute

Company News, International News
Hankook logos disputedHankook Technology; Hankook Technology Group

Hankook Tire won’t be able to call its holding firm “Hankook Technology Group” after a court decided that Hankook Tire used the name for “unfair purposes.” As a result, Hankook Technology Group will no-longer be able to use that name on the Kospi share index either.

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Related news:

  1. Investment News Boosts Hankook Shares
  2. Hankook Stock Falls 2% After Rating Cut
  3. Hankook to build new global R&D centre
  4. Hankook aiming for 12-15% US market share
18th May 2020/by Chris

Hankook Tire CEO Cho receives suspended prison sentence

Company News, International News
Hankook

Cho Hyun-bum, chief executive of tyre maker Hankook Tire & Technology, has received a suspended prison sentence after being indicted on charges of accepting bribes and embezzling corporate funds.

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Related news:

  1. Hankook introduces AI for ‘smarter’ tyre inspection
  2. Hankook Tire signs MoU with leading Korean fleet management firm
  3. Hankook Tire shares update on risk detection tech development
  4. Court rules Hankook Tire partially responsible for worker’s cancer death
20th April 2020/by Stephen

Hankook Tire signs MoU with leading Korean fleet management firm

International News

Hankook Tire signed a memorandum of understanding (MOU) on 16 April with Korean fleet management service provider UB1st. The cooperative relationship between the two companies focuses on creating a new type of fleet management service by combining Hankook Tire’s offline service capabilities with vehicle data collected by UB1st’s platforms, such as UbiKhan.

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Related news:

  1. Hankook Tire CEO Cho receives suspended prison sentence
  2. Hankook and Hyundai sign Driving Experience Center MOU
  3. Hankook Tire shares update on risk detection tech development
  4. CV Show launch for Laufenn truck tyre range
17th April 2020/by Stephen

Nexen Tire resumes production after short coronavirus pause

International News

Tyre manufacture at Nexen Tire’s Changnyeong plant in South Korea resumed yesterday after a two-day break in production in order to implement “protective measures” against coronavirus. In disclosures submitted to the Korea Exchange (KRX), the tyre maker reported its intention to suspend tyre production in Changnyeong on 1 and 2 March, and resume operations on 3 March.

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Related news:

  1. Kumho, Nexen fined for restricting tyre resale prices
  2. Nexen Tire hires ex-Porsche specialist to head premium OE tyre development
  3. Nexen wins US design awards
  4. Nexen Tire profits and sales up in 2014
4th March 2020/by Stephen

Hankook CEO arrested on bribery charges

Company News, International News
Cho Hyun-bum

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.

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Related news:

  1. Hankook Tire CEO Cho indicted on bribery, embezzlement charges
  2. Technodome – Hankook Tire opens new R&D centre in Korea
  3. Hankook Tire CEO Cho receives suspended prison sentence
  4. New R&D centre: Hankook breaks ground on ‘Technodome’
22nd November 2019/by Chris

Nexen Tire hires ex-Porsche specialist to head premium OE tyre development

Career Tracks

Michael Haupt, formerly a tyre development specialist at Porsche, has been appointed head of the ‘Premium OE’ business sector at the recently-opened Nexen Central Research Institute (Nexen univerCITY). In his new position, Haupt will be responsible for creating premium tyres for OEM customers.

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Related news:

  1. Porsche approves Nexen N’Fera RU1 tyres for Macan
  2. Further VW, Seat OE approvals for Nexen
  3. Kumho, Nexen fined for restricting tyre resale prices
  4. Nexen Tire resumes production after short coronavirus pause
29th August 2019/by Stephen

BBS: Handbrake to be released in aftermarket business

Company News

Donghyun Jin has always been a big city lad, but of late he’s downsized. From Seoul and its population of ten million to a village of 3,850 in Germany’s Black Forest. Donghyun Jin, senior director of the Manufacturing division at NICE Holdings (majority shareholder of the BBS Group since 2015) arrived in the village of Schiltach as interim chief executive officer of BBS in order to navigate the alloy wheel manufacturer through the turbulent waters of Dieselgate and the introduction of WLTP.

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Related news:

  1. Bartosch steps down as CEO of BBS – new management team appointed
  2. BBS waging war against brand pirates
  3. Wheelmaker BBS insolvent
  4. Spotlight on the Chinese Alloy Wheel Market
18th June 2019/by Stephen

Kumho, Nexen fined for restricting tyre resale prices

International News

The Korea Fair Trade Commission (KFTC) announced today that it has fined Kumho Tire and Nexen Tire for forcing South Korean retailers to sell tyres at or above specific set prices.

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Related news:

  1. The Market is Ripe for Korean Tyre Makers
  2. No extension for Kumho Tire receivership deadline
  3. Kumho the strongest ‘local’ in South Korea’s aftermarket
  4. Nexen Tire resumes production after short coronavirus pause
30th April 2019/by Stephen

SK Innovation investing 1 trillion won in Hungary car battery factory

International News, Product News

SK Innovation reports that it is planning to invest just under 1 trillion won (a little less than US$1 billion) in its second car battery plant, this time in Hungary. The company has selected Komaron City in northern Hungary for the investment of 945.2 billion won.

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Related news:

  1. Hankook Tire to Spend £130 Million on New Factory
  2. Hankook scales back production, sets record inventory glut
  3. Brembo reports 1H sales of 1.1468 billion, EBIT up 42%
  4. HELLA and BHAP look to intensify collaboration in China
26th March 2019/by Chris

Kumho the strongest ‘local’ in South Korea’s aftermarket

International News

It may not be the best-selling Korean tyre brand worldwide, but at home Kumho outsells its domestic rivals. Data from the Korea Tire Manufacturers Association (KOTMA) indicates that 6.52 million replacement market Kumho tyres were sold in South Korea in 2018. This is more than 40 per cent of all locally-made tyres sold in the country.

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Related news:

  1. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  2. Kumho Tire deadline approaching
  3. Kumho Tire delisting as military supplier
  4. Kumho Tire CEO ‘grateful’ for dealers’ support as first post-acquisition tyre launched
6th March 2019/by Stephen

UK now biggest EU market for Korean car brands – SMMT

Product News, UK News

The growing strength of the automotive relationship between the UK and South Korea has been highlighted today by the Society of Motor Manufacturers and Traders (SMMT) during its trade mission to the country.

Read more

Related news:

  1. SMMT urges government to back new-tech diesel following market decline, uncertainty
  2. February marks two years of growth in UK car sales
  3. UK new car market down a third as tentative restart reveals subdued demand
  4. Fall in new car market a ‘wake up call’ to policy makers
5th July 2018/by Andrew
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