Hankook Tires

From Korean Pioneer to Global Innovator

Hankook Tire & Technology Co., Ltd., a South Korean tire manufacturer, has risen from humble beginnings to become the seventh-largest tire company in the world. Founded in 1941, Hankook has played a pivotal role in South Korea’s industrial growth while establishing itself as a global leader known for quality, affordability, and innovation. This article traces Hankook’s 84-year journey, exploring its origins, technological advancements, global expansion, and commitment to shaping the future of mobility.

Founding Years: The Birth of Chosun Tire Company

Hankook Tire was established in 1941 as Chosun Tire Company in Seoul, South Korea, during Japan’s occupation of the peninsula. The name “Chosun,” meaning “beautiful morning” in Korean, reflected the company’s early aspirations. As South Korea’s first tire manufacturer, Chosun Tire began production in 1942, initially producing around 110,000 tires annually for bicycles and early vehicles. The company operated under challenging conditions, with World War II disrupting supply chains and leaving its facilities in ruins by the war’s end.

Post-war recovery was arduous, but South Korea’s focus on industrial development provided an opportunity for revival. In 1962, the company was acquired by Cho Hong-Jae, founder of the Hyosung Group, marking a turning point. In 1968, it was rebranded as Hankook Tire Manufacturing, with “Hankook” meaning “Korea” in Korean, emphasizing national pride. This rebranding aligned with South Korea’s economic modernization under President Park Chung-hee, positioning Hankook as a key player in the nation’s automotive sector.

Early Milestones and Export Growth

The 1960s and 1970s were transformative for Hankook. In 1962, the company made history as the first Korean tire manufacturer to export car tires, beginning its international journey. By 1974, Hankook developed South Korea’s first radial passenger tire, a technological leap that improved durability and performance, aligning with global trends toward radial tires pioneered in Europe.

In 1979, Hankook opened its Daejeon plant, one of the world’s largest tire facilities at the time, specializing in radial tire production. This strategic investment boosted economies of scale, enabling Hankook to expand exports to the United States and Europe. By 1980, annual tire exports surpassed $100 million, a significant milestone for a Korean company. In 1981, Hankook established its first U.S. sales branch, laying the groundwork for its North American presence. The 1982 opening of the Hankook Tyre R&D Centre and the 1985 construction of Korea’s first tire test track underscored its commitment to innovation.

Global Expansion and Strategic Partnerships

The 1990s marked Hankook’s emergence as a global contender. In 1991, it ranked among the world’s top 10 tire manufacturers, a testament to its rapid growth. Hankook established technical centers in the United States (1992), Europe (1997), and China (1998) to tailor products to regional markets. Its first overseas manufacturing plant opened in Jiaxing, China, in 1996, followed by additional facilities in Hungary (2007), Indonesia (2013), and the United States (2017). These plants, combined with its South Korean facilities in Daejeon and Geumsan, produce over 100 million tires annually for passenger cars, SUVs, trucks, buses, and motorsport vehicles.

A strategic alliance with Michelin from 2003 to 2008 bolstered Hankook’s global profile. Michelin acquired a stake in Hankook (peaking at 9.98% in 2006) before selling it in 2011 for $556 million. This partnership provided technological and market insights, enabling Hankook to secure original equipment (OE) contracts with premium automakers like BMW, Mercedes-Benz, Audi, Porsche, Ford, Volkswagen, and Toyota. Hankook’s Ventus, Dynapro, Kinergy, and iON tire lines became known for high performance, affordability, and versatility, catering to diverse driving conditions.

Innovation and Sustainability

Hankook’s focus on research and development has driven its success. The Hankook Technodome, opened in 2016 in Daejeon, serves as the global R&D hub, connecting technical centers in Akron, Ohio; Hannover, Germany; Osaka, Japan; and China. The Hankook Technoring, Asia’s largest tire test track, opened in Taean, South Korea, in 2023, featuring 13 tracks to test tire performance under extreme conditions. These facilities have produced innovations like the iON tire line for electric vehicles (EVs), launched in 2022, which offers low noise and high efficiency, and the Ventus series, renowned for ultra-high-performance grip and fuel efficiency.

Sustainability is a core pillar for Hankook. The company uses silica compounds and advanced materials to reduce carbon emissions and improve tire longevity. Its eco-friendly practices earned the FIA Three-Star Environmental Accreditation in 2023 for sustainable motorsport contributions, particularly as the exclusive tire supplier for Formula E’s third-generation cars starting in the 2022–23 season. Hankook also aims to lead in ESG (Environmental, Social, Governance) management, publishing annual reports to outline its global sustainability efforts.

Motorsport and Brand Visibility

Hankook’s motorsport involvement, dating back to 1992, has enhanced its technological expertise and brand recognition. The company supplies tires for major series, including Formula E (since 2022), Deutsche Tourenwagen Masters (DTM, 2011–2020), and the Lamborghini Super Trofeo (since 2023). It has also supported teams in the Le Mans Series, Super GT, and Formula Drift, sponsoring drivers like three-time champion Chris Forsberg until 2018. Starting in 2025, Hankook will replace Pirelli as the tire supplier for the World Rally Championship (WRC), further solidifying its motorsport credentials.

Hankook’s sponsorships extend beyond racing, including Real Madrid, Borussia Dortmund, AS Monaco, and the UEFA Europa League since 2012. Its cultural brand, “DRIVE,” launched in 2024, builds on the earlier “MADE IN HANKOOK” campaign, engaging younger audiences through art exhibitions, music festivals, and collaborations with artists like Kian84. These initiatives reflect Hankook’s ambition to be a lifestyle brand, not just a tire manufacturer.

Challenges and Modern Era

Hankook has faced challenges, including a 2023 fire at its Daejeon plant, which disrupted production and led to its withdrawal from Japan’s Super Taikyu series. Global economic factors like trade tensions and raw material costs also pose risks, alongside competition from established brands like Michelin and Bridgestone and emerging Chinese manufacturers. Despite these hurdles, Hankook’s strategic investments, such as the $1.1 billion Indonesia plant (2011) and the Tennessee facility (2017), have strengthened its market position.

As of 2024, Hankook generates global sales of KRW 9.4119 trillion (approximately €6.38 billion), exporting to over 160 countries with a workforce of over 20,000. Its sub-brands—Laufenn (budget-friendly), Optimo (reliable performance), and Kingstar (road-focused)—cater to diverse markets. Hankook’s 2021 80th-anniversary celebrations highlighted its growth, with plans to enter the global top five by 2026 through continued innovation and EV-focused products.

Conclusion

Hankook Tire’s history is a story of resilience, innovation, and global ambition. From its 1941 founding as Chosun Tire to its modern role as a top-tier tire manufacturer, Hankook has transformed South Korea’s tire industry while competing with the world’s best. Its focus on R&D, sustainability, and motorsport, combined with strategic expansion and cultural engagement, positions Hankook as a leader in the evolving mobility landscape. As electric and autonomous vehicles redefine driving, Hankook’s vision to “drive” the future ensures its legacy will endure.

Note: For further details, visit hankooktire.com or consult industry sources like Tire Business or Tyrepress.