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Hankook Tire

Company nameHankook Tire
Company typePublic (traded on the Korea Stock Exchange)
IndustryTire manufacturers
HeadquartersSeoul, South Korea
Key peopleCEO Seung Hwa Suh
Revenue4,461,209 (Unit: in Millions of Won - 2008)
Net income23,543 (Unit: in Millions of Won - 2008)
Employees5,512 (non-consolidated) in Korea, Worldwide 14,000

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The Hankook Tire group, based in Seoul, South Korea is the seventh largest tire company in the world. Established in 1941 as the Chosun Tire Company, it was renamed Hankook Tire Manufacturing in 1968.

Hankook Tire's worldwide reputation has largely grown due to its radial tire and bias-ply tire production. The company now supplies tires as original equipment to the Hyundai Motor Company, Toyota Motor Corporation, Ford Motor Company trucks, General Motors trucks, International Truck and Engine Corporation, and others. In addition to producing about 50 million tires per annum, the company also sells batteries, alloy wheels, and brake pads.

Hankook Tire Co. has announced that the company will invest $353 million to build factory in West Java, Indonesia as part of a plan to become the 5th biggest tire manufacturer in the world. In June 9, 2011 a ground breaking ceremony has been held at 42-hectare area as a regional hub production for export to Asian, North America and Middle East countries.

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