Under extensions to an agreement first signed in 2019, tyre maker Hankook and the Korea Advanced Institute of Science and Technology (KAIST) will continue and expand operations at the HK-KAIST Digital Innovation Center, which is located within the Hankook Technodome in Daejeon, Korea.
South Korean tyre maker Hankook has turned 80, and Hankook & Company Co., Ltd. is marking the occasion with the launch of a new long-term business portfolio. This portfolio, explains Hankook Tire & Technology’s holding company, will advance “new growth engines of the future.” Hankook & Company has also declared a renewed commitment to increase competitiveness and gain stronger leadership in the company’s core businesses.
From its base at Seoul Incheon Airport in South Korea, Air Premia will soon start operating regional flights to Vietnam (Hanoi) and Japan (Tokyo), with plans to fly intercontinental routes in the coming years. By 2024, Air Premia aims to have a fleet of ten Boeing 787-9 aircraft fitted exclusively with Michelin tyres. The Air Premia-operated Boeing 787-9 planes will be equipped with Michelin Air X tyres featuring patented Near Zero Growth (NZG) technology.
Kumho Tire Co is planning to invest some 340 billion won (£217 million; 255 million euros; US$298 million) in expanding its tyre production facilities in Vietnam. The planned investment aimed at bracing for an increase in demand from North American markets and mitigating tariff-related price pressure, according to local news sources.
Hankook Tire will work together with Hyundai Motor and Kia to develop intelligent services for consumables management based on the three companies’ data and technologies. This collaboration will take place under a Memorandum of Understanding that the companies sealed through a virtual signing ceremony yesterday.
Automotive supplier Hella intends to sell its 50 per cent share in the South Korean joint venture Mando Hella Electronics (MHE) to Mando. The two partners have now signed a corresponding agreement and the transaction is expected to close in the first quarter of 2021 calendar year. The price is “around €60 million.”
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.
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.
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.
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
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.
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.
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.
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.