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Hankook Tire Takes 7th Spot in Global Tire Market

SEOUL, Sept. 20 (Korea Bizwire) – Hankook Tire Co., South Korea’s leading tiremaker, ranked seventh in the global tire market last year in terms of revenue, and its smaller local rival Kumho Tire Co. took 14th, according to an industry report on Wednesday. Hankook Tire logged US$5 billion in sales last year, down 5.9 percent from a year earlier, according to the U.S.-based industry magazine TireBusiness. Its smaller local rival Kumho Tire Co. raked in sales of $2.4 billion last [...]

Dutch Electronics Giant Philips Proposes Takeover of Coway Stake

SEOUL, Sept. 10 (Korea Bizwire) — Dutch electronics giant Philips has expressed interest in taking over a stake in Coway, South Korea’s top water purification maker which has been put on the selling block, industry sources said Thursday. Last month, Seoul-based private equity fund MBK Partners picked Goldman Sachs as a lead manager of the sale [...]

Hankook’s Futuristic Tires Win IDEA Award

SEOUL, Aug. 10 (Korea Bizwire) – Hankook Tire has won a 2015 International Design Excellence Award for its futuristic tire designs. Three tires developed by Hankook in collaboration with Pforzheim University were designed to provide optimal performance under severe conditions caused by global climate change such as deforestation, heavy snow and rain. According to Hankook Tire, the Boostrac [...]

Hankook Tire to Sponsor and Supply 24H Series

SEOUL, Jan. 9 (Korea Bizwire) — Hankook Tire will be a title sponsor for the 24H Series, the biggest endurance race in the world, and will be the exclusive tire supplier from 2015 to 2017, according to a company announcement on January 8. The Korean tire manufacturer will supply 17″ to 19″ racing tires to every [...]

Hankook Tire Breaks Ground for Central Research Center in Daejeon

SEOUL, June 12 (Korea Bizwire) – Hankook Tire said on June 10 that it held a groundbreaking ceremony for the Hankook Tire Techno Dome in Daejeon to be used as the tire maker’s new central research center. Hankook Tire will aspire to become a global top-tier tire brand based on the R&D effort to be [...]