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Hankook subsidiary partnering on AR development

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Hankook Tire & Technology’s tyre plants in Geumsan, South Korea, and Tennessee, USA are currently home to field tests of augmented reality technology developed by Hankook & Company subsidiary Model Solution. The total hardware platform company now aims to extend its competencies through an agreement signed with an artificial intelligence (AI) and extended reality (XR) technology company Virnect. This will see the two partners collaborating to research and develop smart goggles at Model Solution’s facility in Bucheon, South Korea.

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Related news:

  1. Hankook: HK-KAIST collaboration widens
  2. Hankook Tire CEO Cho receives suspended prison sentence
  3. Hankook & Company signs MOU with KAIST to build data infrastructure platform
  4. Hankook Technodome gains trio of safety certifications
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Hankook takeover bid fails

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Christmas is a time of togetherness with kinsfolk, but not if you’re a member of Hankook’s Cho family. On December 25, efforts by private equity firm MBK Partners – in collaboration with three Cho siblings – to acquire a controlling stake in Hankook & Company failed after MBK’s tender offer secured insufficient subscriptions.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

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Related news:

  1. Hankook & Company signs MOU with KAIST to build data infrastructure platform
  2. Hankook Group takes majority share in Canadian optical MEMS specialist
  3. MBK Partners ups Hankook bid
  4. Hankook at 80 – company announces S.T.R.E.A.M. business portfolio
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MBK Partners ups Hankook bid

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MBK Partners, a private equity firm in Asia, has increased its offer to buy a controlling stake in Hankook & Company, the parent company of Hankook Tire & Technology Ltd. On 17 December, MBK Partners raised its offer to acquire a minimum of 20.35 per cent and a maximum of 27.32 per cent of Hankook & Company by 20 per cent. The revised price now stands at 24,000 won ($18.40) per share, up from the initial offer of 20,000 won. The price is 51.4 per cent higher than the firm’s closing price of 15,850 won on Friday.

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Related news:

  1. Pirelli is now Chinese owned
  2. Cooper shareholders approve Goodyear merger
  3. Hankook Group takes majority share in Canadian optical MEMS specialist
  4. Itochu bids $1.7 billion for Hitachi Construction Machinery stake
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New battery subsidiary for Hankook

Hankook

Hankook & Company Co., Ltd., the holding company of Hankook Tire & Technology Co., Ltd., has established a new subsidiary company under its Energy Solution (ES) Business Headquarters: Hankook & Company ES Deutschland, based in Frankfurt, aims to expand the company’s automotive battery business in the European market. The new batteries of the brand (formerly Hankook Atlas BX) were first shown in September at Automechanika, Europe’s largest car parts trade fair.

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Related news:

  1. Name change for Hankook Tire holding company
  2. Sibling rivalry: Cho Hyun-sik resigns as vice-chairman of Hankook holding firm
  3. Hankook at 80 – company announces S.T.R.E.A.M. business portfolio
  4. Hankook Group takes majority share in Canadian optical MEMS specialist
/by

New CEO at Hankook Networks

Hankook Networks is the IT and logistics engineering arm of Hankook & Company and is tasked with enhancing the group’s competitiveness by utilising and applying its latest IT and digital technologies to other affiliate companies, including Hankook Tire & Technology. As of 2 May 2022, the business is being led by a new chief executive officer, Youngmin Cho.

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Related news:

  1. New year, new chairman: Cho Hyun-bum takes the reins at Hankook & Company
  2. Hankook & Company appoints CDO
  3. Name change for Hankook Tire holding company
  4. Hankook: HK-KAIST collaboration widens
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Bahk named Hankook & Co. BoD chairman

Hankook & Company, holding firm for Hankook Tire & Technology, has appointed Bahk Jae-wan chairman of its Board of Directors. The appointment was confirmed at a general meeting of shareholders and board meeting held on 30 March.

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Related news:

  1. Hankook: HK-KAIST collaboration widens
  2. Komaguchi becomes chairman, Shimizu to president as Toyo shuffles board personnel
  3. Hankook & Company appoints CDO
  4. Mobiltech: 1st investment for Hankook fund
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Hankook & Company appoints CDO

Seongjin Kim is the new Chief Digital Officer (CDO) of Hankook Tire & Technology Co., Ltd. His appointment to this role takes effect immediately and as CDO, Kim takes responsibility for further accelerating the group’s digital transformation.

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Related news:

  1. Hankook: HK-KAIST collaboration widens
  2. New year, new chairman: Cho Hyun-bum takes the reins at Hankook & Company
  3. Hankook Tire examining distribution structures, looking at M&A growth
  4. Name change for Hankook Tire holding company
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New year, new chairman: Cho Hyun-bum takes the reins at Hankook & Company

Cho Hyun-bum has been officially inaugurated as chairman of Hankook & Company, holding firm for Hankook Tire & Technology. Hyun-bum is the younger son of former chairman Cho Yang-rai, who becomes the company’s honorary chairman.

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Related news:

  1. Hankook Tire CEO Cho indicted on bribery, embezzlement charges
  2. Hankook Tire CEO Cho receives suspended prison sentence
  3. Sibling rivalry: Cho Hyun-sik resigns as vice-chairman of Hankook holding firm
  4. Hankook & Company signs MOU with KAIST to build data infrastructure platform
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Hankook Group takes majority share in Canadian optical MEMS specialist

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The Hankook Group has acquired a majority shareholding in Preciseley Microtechnology Corp, a global specialist in optical MEMS (micro-electromechanical solutions) systems. In making the acquisition, Hankook is seeking synergies with complementary technologies to generate new business and growth opportunities. The most immediately obvious of these is Preciseley Microtechnology’s optical automotive applications for 3D environment detection.

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Related news:

  1. Hankook & Company signs MOU with KAIST to build data infrastructure platform
  2. Hankook Tire extends Canada ice hockey sponsorship
  3. Name change for Hankook Tire holding company
  4. Sibling rivalry: Cho Hyun-sik resigns as vice-chairman of Hankook holding firm
/by

Mobiltech: 1st investment for Hankook fund

In May we shared that Hankook & Company Co., Ltd., the holding company of Hankook Tire & Technology Co., Ltd., had established a fund the previous month to facilitate the securing of a new growth engine. The company reports that this business portfolio, named S.T.R.E.A.M., has made its first investment. It has invested in Mobiltech, an artificial intelligence-based spatial information and service start-up, and is now contemplating potential joint projects with Hankook Tire.

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Related news:

  1. Hankook at 80 – company announces S.T.R.E.A.M. business portfolio
  2. Hankook & Company signs MOU with KAIST to build data infrastructure platform
  3. Hankook Tire CEO Cho receives suspended prison sentence
  4. Hankook working with Hyundai & Kia on data-based services
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Hankook & Company signs MOU with KAIST to build data infrastructure platform

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Hankook & Company Co., Ltd., the holding company of Hankook Tire & Technology Co., Ltd., has expanded its cooperation with the Korea Advanced Institute of Science and Technology (KAIST) through the signing of a memorandum of understanding with its College of Engineering. This latest MoU centres on the ‘Symbiotic Transformation for AI-infused Reality (STAR) Project’ and seeks to “build a data infrastructure platform and strengthen cooperation in researches for the post-AI age.” One potential outcome of this collaboration is that data will later be used in Hankook’s tyre research and development.

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Related news:

  1. Hankook: HK-KAIST collaboration widens
  2. Hankook Tire signs MoU with leading Korean fleet management firm
  3. Hankook working with Hyundai & Kia on data-based services
  4. Hankook Tire CEO Cho receives suspended prison sentence
/by

Hankook: HK-KAIST collaboration widens

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.

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Related news:

  1. Hankook Tire CEO Cho receives suspended prison sentence
  2. Hankook Tire shares update on risk detection tech development
  3. Hankook introduces AI for ‘smarter’ tyre inspection
  4. Hankook Tire signs MoU with leading Korean fleet management firm
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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.

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Related news:

  1. Hankook Technodome gains ISO/IEC 17025 certification
  2. Hankook Tire CEO Cho receives suspended prison sentence
  3. Name change for Hankook Tire holding company
  4. Hankook working with Hyundai & Kia on data-based services
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Sibling rivalry: Cho Hyun-sik resigns as vice-chairman of Hankook holding firm

Cho Hyun-bum is now the sole head of Hankook & Company, the holding company that oversees Hankook Tire & Technology and seven other affiliates. Older brother Cho Hyun-sik announced his resignation as vice-chairman in a letter to shareholders yesterday

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Related news:

  1. Hankook introduces AI for ‘smarter’ tyre inspection
  2. Strong partnership: Hankook gains GM Supplier of the Year award
  3. Design awards for Hankook Kinergy 4S², concept tyres
  4. Name change for Hankook Tire holding company
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Name change for Hankook Tire holding company

Following a name change approved on 29 December 2020, Hankook Technology Group – the holding company of Hankook Tire & Technology – is now known as Hankook & Company. By retitling this entity, Hankook says it aims to leverage its affiliates’ brand awareness and create synergies.

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Related news:

  1. Hankook adding truck tyre production to European plant
  2. Hankook an IDEA award finalist
  3. Hankook Tire CEO Cho receives suspended prison sentence
  4. Earnings decrease, but larger tyre sizes grow in importance for Hankook Tire
/by

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