Hankook Tire Aims to Be Global Top Five Tire Maker

The company inks an OE deal with Toyota

Hankook Tire has signed an original equipment (OE) agreement to supply tires for new cars produced by Japan's representative brand, Toyota. The deal has capped Hankook Tire's globalization efforts to become a global company by supplying tires to the global Big Five automakers ― General Motors, Volkswagen, Toyota, Renault-Nissan and Hyundai-Kia.
According to the agreement, the OE tires will be fitted for Toyota's small-size car, the iQ. The tires are now produced at Hankook Tire's Geumsan plant in Chungcheongnam-do.
The deal indicates that Hankook Tire has gained recognition for its world-class technological prowess since the Korean tire maker has met Toyota's stringent requirements for the OE tire requirements.
The agreement has allowed Hankook Tire to establish a foundation for expanding its partnership with Toyota, and it is expected to help Hankook Tire move forward toward achieving its goal of rising to be among the global top five tire makers, company officials said.
The latest feat was owed to Hankook Tire's globalization strategies based on its incessant technology development and improved brand value through global marketing activities.
Hankook Tire has also proved its superb technological standing, as it has been designated as one of official tire suppliers for Deutsche Tourenwagen-Meisterschaft (DTM), a touring car series known for its rivalry between Mercedes Benz and Audi.
Woo Byung-il, managing director of Hankook Tire Global OE Division, said Hankook Tire's exclusive supplying of tires to Toyota could serve as a foundation toward global eco-friendly trends, since Toyota is a global leader of eco-friendly cars, and Hankook Tire plans to ramp up its global competitiveness through a continued partnership with Toyota.
INCLUDED ON SUPER BRAND LIST IN TIRE CATEGORY
Hankook Tire was put on the "Super Brand List" in the tire category according to the results of a survey by the Institute for Industrial Policy Studies (IPS).
The IPS announced on Dec. 2 the winners of the Super Brand List, including Hankook Tire in the tire category, based on the outcomes of an online survey of some 2,000 customers aged from their 20s to their 60s during the period between May and October 2011. It was the fourth consecutive year that Hankook Tire was on the Super Brand List, reconfirming its solid brand power in the tire field.
The results of the annual survey, conducted by the IPS since 2003, reflect how strong brand awareness affects customers' buying decisions.
Kim Sae-hyun, managing director in charge of the Hankook Tire brand, said Hankook Tire's listing on the Super Brand List in the tire category for the fourth consecutive year was owed to the tire maker's brand management based on thorough quality control and customer service, and his company will do its utmost to ramp up its global competitiveness beyond being Korea's representative brand. nw

Hankook Tire has topped the quality index, 2010 KS-QEI, in the tire category, which was announced by Korea Standard Association (KSA).

Hankook Tire has won the 4th Korea Sharing & Volunteering Grand Prize in the corporate category, announced by the National Council of NOP, Korea.