Hankook Tire's global sales increased by 11.5% year-on-year in 2010

Hankook Tire, the world’s seventh-largest tire manufacturer, recently announced its global sales performance report for fiscal 2010—annual sales exceeded 5.4 trillion won (approximately US$4.65 billion), a year-on-year increase of 11.5%. As raw material prices continued to rise, Hankook’s operating profit in 2010 was still up 6.7% year-on-year, reaching a record high of 580.8 billion won.

Hankook Tire was able to achieve such impressive sales performance in 2010, first and foremost due to the rising sales of emerging markets. Hankook Tire's sales in Latin America and the CIS increased by 64.7% and 49.7% respectively year-on-year. At the same time, North America, Europe, and Asia Pacific continue to maintain their strong and stable position as long-term strategic markets. In mature markets such as the United States and Canada, Hantai Ultra High Performance Tyres (UHP) has gained more and more authoritative media and consumers. Recognized, the market demand continues to increase, and annual sales increased by 42.2% year-on-year.

In the Chinese and Korean markets, Hankook Tire began to focus on the production of super-high-performance tires while maintaining its market share, continuously improving production efficiency and expanding production capacity. The supply of Hantai Super Performance Tyres jumped by 80.7% and 57.3% respectively in Korea and China in 2010. With the ever-increasing value of Hankook Tire's tire brand and increasing global consumer confidence in its product quality, many front-line car manufacturers have handed over their global tire support business to Hankook.

Han Tae-Tets Vice President and Global CEO Mr. Xu Chenghe said, “2010 is a milestone for Hankook Tire in a new era. In addition to achieving the best results in history, Hankook is even faster for the future. To grow, new plans have been formulated, including the construction of new factories in Indonesia and China to further expand production capacity.” Mr. Xu Chenghe added, “In 2011, we will usher in the 70th anniversary of the establishment of Hankook Tire. In this historical opportunity, as Hankook Tire, a global tire leader, will focus on creating a sustainable and creative corporate culture while further implementing various initiatives that are conducive to environmental protection."

The global sales target of Hankook Tire in 2011 is 6.06 trillion won. The huge self-challenges that will take advantage of the successful expansion of the Hungarian plant will be expected. In addition, the start of construction of the Chongqing plant in China and the Indonesia plant will also be the future development of Hankook Tire. Add new energy.

According to Hankook Tire, in 2011, Hankook Tire will increase its brand value based on the assurance of product quality and service quality. Based on this, Hankook Tire has officially announced that it will be the exclusive tire supplier for the German Touring Masters (DTM) since 2011. Taking advantage of the current advantages, Hankook Tire will continue to enhance its competitiveness in terms of scale production, global sales network, R&D strength, strategic sales and marketing.

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