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Hankook & Company Announces Business Strategy for 2023

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Technoring Proving Grounds. Photo Hankook & Company

Hankook & Company Co., the holding company of Hankook Tire & Technology Co., has announced its global business strategy for 2023. 

In 2022, based on the newly established growth engine portfolio S.T.R.E.A.M., Hankook & Company Group focused on achieving innovation and strengthening the path towards sustainable growth, reaffirming its position as a global leader as evidenced by Model Solution. Hankook & Company is the first Korean company in the domestic prototype industry to be listed on the KOSDAQ.

Hankook & Company established a European headquarters for its Energy Solution business and strengthened global presence by expanding the sales network in the American market. In addition, to progress towards the goal of becoming a Solid Top 5 company by 2030 (2030 ST5 Roadmap), the company announced the expansion of its Tennessee Plant in the U.S.

A series of milestones 

In 2022, Hankook Tire saw a series of milestones that underscored the company’s commitment to technological innovation. This includes the grand opening of Asia’s largest tire proving ground, the Hankook Technoring and Hankook Tire becoming the first mover in EV-dedicated tires with the launch of the iON brand. Hankook Tire also became part of the prestigious Formula E family as the official technical partner and tire supplier.

Moving forward into 2023, Hankook will prioritize technological innovation by strengthening the R&D capability. As EV adoption accelerates globally, Hankook will continue to develop tire technology dedicated to an electrified future and strengthen its ability to deliver new product lines that leverage virtual technology, tire sensors, airless tires, and sustainable materials.

Hankook will also strategically incorporate Artificial Intelligence (AI) into all production, research and development and marketing initiatives to accelerate customer-focused digital transformation, which will lead to more informed decisions and digital innovation.

Lastly, the company will continue to foster its unique proactive culture. To have a competitive edge that fits the future business environment, Hankook will encourage its employees to continue to challenge themselves and innovate with an entrepreneurial mindset, communicate openly, and actively explore creative ideas. The company will work cohesively to respond to customers’ quickly changing needs and priorities.

 

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