Leveraging Our Success Formula
Hankook Tire has a proven history of finding unique ways to increase competitiveness. Based on our entrepreneurial spirit and desire to surmount difficult challenges, we have developed a strong foundation of growth and innovation that have shaped the company into a leading global tire brand.
Optimal Productivity & Efficiency
Throughout our entire production process, Hankook Tire’s productivity and efficiency in all processes are extraordinary. Widely recognized as the first tire company to have benefited from mass production and a global supply system, we have improved our standing worldwide. At a time when globalization was unfamiliar and the tire industry could not meet local demand through small production facilities, we were able to step up by strategically developing large-scale production facilities and an efficient global supply network. Hankook Tire simultaneously maximized productivity and efficiency, engaging quick response to customer demand in over 180 countries.
Diversified Global Portfolio
The Hankook Tire brand boasts a diversified global portfolio across five oceans and six continents. By dividing the world into five zones and crafting specific strategies for each, Hankook Tire has achieved stable growth in both advanced and emerging automotive markets. Hankook Tire’s history of steady growth even amid severe economic storms—the 1997 Asian liquidity crisis, 2008 global financial crisis, and European financial crisis—is a testament to our ability to build a stable business flexible enough to seamlessly respond to global economic hardships.
Rising Brand Value
The ability to anticipate the challenges of the world economy and the automobile market has made Hankook Tire what we are today. The tire industry, which grew rapidly during the era of motorization, underwent restructuring in the 1980s and market reform which centered on global brands in the 1990s. Effectively analyzing the future, we accelerated our advancement into markets around the world and became a global brand. The 2008 financial crisis has compelled further change in Hankook Tire as consumers in advanced markets seek rational consumption, while those in emerging markets have begun to emphasize quality and brands. With extraordinary insight and technonloy, Hankook Tire is once again taking a giant step towards enhancing our brand value.
Entrepreneurial Spirit in New Markets
Since the founding of Hankook Tire, our entrepreneurial spirit has been the driving force for growth in new markets. Moreover, the will to overcome challenges among our top management has ensured continued growth. As the first global company to advance into the Chinese market, we have strengthened our position as the top tire brand there through localization strategies. In the emerging markets of Russia, Central and South America, and Indonesia, our success has achieved global awards and recognition. One such honor received is the Commander’s Cross Order of Merit received from the government of Hungary in 2012 for our accomplishment in setting up a production facility in a strategic local that benefits both the European market and the local community.
A Solid Balance Sheet
At Hankook Tire, our transparent and sound financial structure has enabled continuous reliability and growth. At the end of 2014, our debt, gearing, and net worth ratios were 84.2%, 26.9%, and 54.3%, respectively. As of the year 2013, we recorded an annual growth rate of 13% over the past decade, and despite economic recessions in the United States and Europe, we have continued our upward trend in growth through efforts to optimize our labor force and operating expenses.
Additionally, we maintain a transparent financial management system that puts emphasis on corporate responsibility and shareholder profit. Our stable financial structure is the basis for reinvestment, which has enabled us to increase our brand power worldwide.