Hankook grows operating profit, withstands pandemic year

Hankook is celebrating 80 years in business in 2021. The tyre manufacturer is now firmly within the global top tier, with a strategy to consolidate its position further by increasing sales of larger, UHP tyres in major regions, supplying original equipment tyres for premium cars, and developing its electric vehicle market. In 2020, Hankook tyres performed well in independent tyre tests and expanded its original equipment business with premium car-makers. These included Porsche’s first high-performance electric sports car, Taycan, and Audi’s top models RS6, RS7 as well as Audi RS Q8. Overall, Hankook announced in its full year report for 2020 that it is targeting global sales of 7 trillion South Korean won (£4.6 billion) in 2021.