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Integrated Risk Management

Hankook Tire is maximizing its ability to respond proactively by building an integrated risk management system. By assessing and addressing the sources of potential danger, our desire is to ensure sustainable growth for our stakeholders and our communities.

Hankook Tire is maximizing its ability to respond proactively by building an integrated risk management system. By assessing and addressing the sources of potential danger, our desire is to ensure sustainable growth for our stakeholders and our communities.

Key Achievements

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Background

There are diverse risks lurking in corporate management, including changes in regulations and corporate reputation as well as physical risks such as natural disaster and safety accident. Those may cause serious losses. Therefore, companies are required to prevent such risks in advance. Stakeholders also have much interest in corporate competence in responding to risks.

Risks & Opportunities

As a leading tire maker, failures in swift and proper response to risk occurrence may bring about serious crisis such as discontinuity in supplying products. In other words, success in identifying and preventing risks in advance will ensure both financial and non-financial stability. Even in case of facing unforeseen risks, business operation can be maintained if we have capability to promptly respond to those and recover.

Management Direction

We will establish and disseminate the Business Continuity Management System (BCMS) based on the global standard (ISO22301) to rapidly recover core operations in case of crisis, thereby ensuring our business continuity. We will also prevent risks by consistently strengthening our risk monitoring system headed by compliance risks.

Responsible Organization

Crisis Management
• Crisis Management Headquarters (non-standing decision-making body in case of crisis)

Business Continuity Management System
• Production Management Team of each plant (Daejeon, Geumsan, and Hungary)

Compliance Risk Management
• Legal Team

Plans & Outlooks

We may face diverse risks derived from internal factors such as the expansion of production sites and rapidlychanging external environments including the Fourth Industrial Revolution. In response, we will endeavor to enhance monitoring capabilities for risk prevention and spread the BCMS throughout the company, thereby ensuring employee safety, promptly recovering core business, and eventually minimizing impacts to customers and stakeholders.


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