Hankook at 80 – company announces S.T.R.E.A.M. business portfolio

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.

The business portfolio is called ‘S.T.R.E.A.M.’, and the name is also an acronym in which each letter “delivers the essential directions on where Hankook is headed for in the future.” Starting with the letter ‘S’ that stands for Smart Energy such as renewable energy and eco-friendly batteries, ‘T’ represents Tire & Core business. ‘R’ points to Rising Tech that is to be adapted for business portfolio diversification. Rounding out the acronym, ‘E’ represents Electrification and ‘A’ for Automation and efficiency through advanced technology such as robotics, whereas ‘M’ stands for Mobility as the entire industry.

Hankook & Company, which launched as an operating holding company in April, is actively seeking investment and M&A opportunities in the ‘S.T.R.E.A.M.’ sector and intends to expand its business portfolio in the future in line with technology in trend that keeps changing.

Hankook has also unveiled an 80th anniversary emblem that commemorates achievements the company’s achievements throughout its 80-year history and highlights its growth through the determination to pursue sustainable expansion through innovation.

Technology leader & OE supplier

Founded in 1941 as the Chosun Tire Company, Hankook is South Korea’s first tyre company. A holding company was first established upon Hankook’s split into two entities in 2012, and earlier this year Hankook & Company merged with the energy solution affiliate Hankook AtlasBX. Hankook says this strategic move strengthens its core competencies for rising future industries and solutions. As it begins its 81st year, Hankook says its key priorities remain “a continuous pursuit to demonstrate the higher goal of a technology leader that bestows positive influence in the community and the environment respective of a premium brand.”

Core affiliate Hankook Tire & Technology, continues to expand strategic partnerships with vehicle manufacturers around the world. It currently supplies original equipment tyres for 320 car models from 46 automotive brands worldwide, including flagship and high-performance models. Furthermore, Hankook Tire & Technology actively participates in global sustainability initiatives, and its efforts have been recognised in the Dow Jones Sustainability Indices World (DJSI World) for five consecutive years.