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Hankook Awaiting Further Information Following Daejeon Employee Death

The Korea Times has reported the death of a 27-year old man employed as a subcontract worker in Hankook Tire’s Daejeon factory in South Korea. According to the September 27 published article, the death is the 16th amongst workers at Hankook’s Korean facilities since May 2006 and the deaths “are suspected to be related to the working environment.” The man, who is identified by the name ‘Lee’, is said to have had no previous health concerns and was employed to examine the surface of newly manufactured tyres.

27th September 2010/by Tyrepress Editors

More than Blue Sky Thinking – Hankook Displays Concept Van Tyre

If Hankook Tire has its way, van drivers will not be excluded from a future that includes more environmentally friendly tyres. The Korean manufacturer has shown off its vision for a more fuel-efficient and lower rolling resistance van tyre at the IAA Commercial Vehicle show in Hannover, Germany. Hankook calls this prototype tyre Concept Blue and says it anticipates future trends starting at the tyre dimension 195/45 R 20. The tyre’s diameter of 700 mm is relatively large by comparison to its width, proportions that Hankook says yield a characteristically narrow yet high-profile silhouette that “fits perfectly with the overall image of electric and hybrid vehicles.” From a technical standpoint, the combination of a low air drag coefficient and low rolling resistance means that less energy is used. Hankook also points to the sidewall and shoulder area’s aerodynamic properties as two other design highlights.

23rd September 2010/by Tyrepress Editors

Hankook CEO Says Industry Needs to Pull Together on Consumer Education

In his keynote speech at the Tire Society annual conference yesterday in Akron, Hankook Tire Co. president and CEO Seung Hwa Suh called on the global tyre industry to pull together to improve consumer tyre education, reports Tire Review. And Suh warned that tyre-makers needed to be more mindful of their impact on the environment. Suh’s comments came on the first day of the 29th annual Tire Society Annual Meeting and Conference on Tire Science and Technology.

21st September 2010/by Tyrepress Editors

Hankook to Produce Truck Tyres in Hungary

According to Hankook Tire Europe executive vice president and COO Jin-Wook Choi, the company holds the long-term goal of doubling its annual European production to more than 20 million units. In addition to this sizable increase in passenger car, 4×4 and van tyre production, the company has decided that in the long-term to add a truck tyre production line at its factory in the Hungarian town of Dunaújváros.

20th September 2010/by Tyrepress Editors

Goodyear, Michelin, Dunlop on Top in US Test

In an evaluation of 21 UHP summer tyres, US publication Consumer Reports has rated products from Goodyear, Dunlop and Michelin as being the pick of the bunch. Tyres from 19 different companies were put through their paces at Consumer Reports’ Auto Test Center in Connecticut, with evaluations of braking, handling, hydroplaning, tread life, rolling resistance, and noise performed. An overall “excellent” score was given to the Dunlop SP Sport Maxx GT, Michelin Pilot Sport PS2 and Goodyear Eagle F1 Asymmetric. Scoring just below the trio of victors was the Continental Extreme Contact DW and the Hankook Ventus V12 evo. Both of these tyres are lower priced products than the test winners, the Hankook “considerably” so.

16th September 2010/by Tyrepress Editors

Hankook’s Suh to Give Keynote Address at US Conference

Hankook Tire vice chairman and CEO Seung Hwa Suh is scheduled to present a keynote speech at a conference organised by Ohio, USA based organisation Tire Society. The September 20 address on the opening day of the 29th Annual Business Meeting and Conference on Tire Science and Technology is titled ‘Tire Industry Opportunities and Challenges’, and the Tire Society reports that Suh will highlight current opportunities and challenges facing the tyre industry along with ways to improve and adapt technologies for a changing market. Suh will also suggest a future guidance for tyre companies with emphasis on fuel and economic efficiency as well as the eco-friendly trend.

14th September 2010/by Tyrepress Editors

Auto Express Tests: Sava Offering Quieter, Fuel-Efficient Ride

While it finished tenth out of twelve overall in Auto Express’s tyre tests, Slovenia’s Sava – part of the Goodyear Dunlop group – scored particularly well in the noise test, beating all the other contenders, and was ranked in second place in the rolling resistance tests, in which it scored closest to the runaway winner of that test, Hankook.

9th September 2010/by Tyrepress Editors

Hankook Prepared for First Appearance at Moscow Auto Salon

Hankook Tire says it is excited to announce its first appearance at the Moscow International Automobile Salon. The company’s reports that its exhibition space (booth 430 in hall 12 for those of you planning to visit) has been custom designed for this show and reflects the growing importance of the Russian and CIS markets for the company’s future business strategy.

26th August 2010/by Tyrepress Editors

Hankook’s Suh Becomes Honorary ‘Rácalmán’

Rácalmás is a central Hungarian town, located on the right hand side of the river Danube, and is home to some 4,500 people. It’s also home to Hankook Tire’s European factory, and the Korean tyre maker’s contribution to the region was formally acknowledged on August 20 when company vice chairman and global CEO Seung-Hwa Suh was made an honorary citizen of Rácalmás.

24th August 2010/by Tyrepress Editors

Hankook “Likely” to Choose Indonesia

The amount Hankook Tire invests in Indonesia could be as much as US$1.2 billion. Gita Wirjawan, chairman of the Indonesia Investment Coordinating Board, has been quoted by Indonesian media as saying Hankook has “informed us that they will likely choose Indonesia.” According to the Jakarta based newspaper Bisnis Indonesia, work on the 15 million tyres per annum capacity plant will begin at the end of the year.

19th August 2010/by Tyrepress Editors

Hankook Eyes Premier League Football Deal, Extends European Sponsorship

While Hankook discloses the medium term aim of widening its football sponsorship strategy to include England’s Premier League and Italy’s A Series, it is currently furthering its commitments through new deals in Germany and Spain. In addition to extending its relationship with six times German league champion Borussia Dortmund, in the 2010/2011 season the tyre maker will also display advertisements at the home stadiums of four federal league teams: Bayer 04 Leverkusen, Eintracht Frankfurt, VfB Stuttgart and VfL Wolfsburg.

13th August 2010/by Tyrepress Editors

Indonesia Increasingly Attractive to Hankook

Financial news sources reporting on the rising wage demands of China are suggesting that South Korean companies, including tyre-maker Hankook, are gravitating towards Indonesia on the back of increasing stability in the country. Kang Chang-hwan, the company’s Finance and Management executive vice president in South Korea, told reporters “We are now looking to get the necessary regulatory approval from the Indonesian authorities to go ahead with the plant though the site has yet to be decided,” following a meeting with investors after Hankook published its second quarter financial results.

12th August 2010/by Tyrepress Editors

Hankook on Track to Achieve Planned European Market Growth

During the second quarter of 2010 Hankook Tire’s sales in Europe put the tyre maker in a good position to achieve its growth goals within the region. Year-on-year growth in the three months to June 30 was 17.8 per cent, with sales of products from its Dunaújváros plant in Hungary increasing 20.3 per cent year-on-year following a 17 per cent year-on-year growth in the first quarter.

3rd August 2010/by Tyrepress Editors

Hankook Results Counter ‘Lacklustre’ Analyst Expectations

Hankook recent record second quarter results contradict the negative predictions of some financial analysts that when Hankook Tire kicks off the second quarter earnings season for auto/auto part makers on 20 July, it will set the tone for a “lacklustre” set of results from the likes of Hankook, Kumho and Nexen. In an investor’s note dated 1 July 2010, Deutsche Bank research analyst Sanjeev Rana had commented: “We expect tyre makers such as Hankook and Nexen Tire to report in line or slightly below consensus results due to the burden of higher rubber prices.” It appears these reports failed to take into account the huge profit jumps of 501 per cent and 43 per cent in the first quarter 2010 from Hankook and Nexen respectively and an 18 per cent increase in sales from Kumho – all of which surprised analysts at the time.

23rd July 2010/by Tyrepress Editors

Hankook's Andreas Mikkelsen Gains IRC Points in Azores

Hankook driver Andreas Mikkelsen celebrated after an eventful finale to the Stat Rallye Acores over the weekend resulting in an impressive fourth overall. During the three day event the Hankook crew of Mikkelsen and co-driver Ole Fløene recorded their maiden IRC fastest time and challenged more experienced teams on their first visit to the island and only their second rally on gravel using the M-Sport Ford Fiesta S2000 on Hankook tyres.

The Norweigen rally ace was comfortably running in the top five on the IRC event until a herd of cows, that had strayed, obstructed the stage causing Mikkelsen to hit them, consequently damaging the crews Ford Fiesta S2000. When speaking about the incident Mikkelsen said: "We were flat-out in sixth-gear and 50 metres after a big crest there was eight or ten cows in the middle of the road. We had to put the car into the ditch where we hit two of the cows. It was a scary moment."

21st July 2010/by Tyrepress Editors