Hankook posts record sales for 2008

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Hankook posts record sales for 2008

Hankook Tire Co. posted record sales of $3.7 billion (4.07 trillion won) in 2008. “With continuing growth through various channels worldwide and recent involvements with new automobile companies, as well as an increasing number of sales in ultra-high performance (UHP) tires, Hankook has sustained (its) growth in sales in 2008,” say company officials.

Sales of Hankook’s UHP tires increased by 35% in 2008, along with a 42% increase in OE sales.

Regarding Hankook’s UHP sales, Hankook CEO Seung Hwa Suh says the company’s “continuous efforts for new partnerships with various automobile institutions and the tailoring of our products to the current environmental sustainability standards has allowed us to deliver quality products to our consumers by leveraging our Kontrol Technology in the development of our UHP products.”

In spite of the challenging global economic climate, Hankook remains positive about its growth prospects in 2009. The company is aggressively targeting global sales of nearly 4.33 trillion won ($3.9+ billion USD). “This target reflects the continuous efforts of Hankook’s maintenance of investments in technology, brand reputation and on-going support of consumers’ needs.”

"I am pleased with our results this year,” says Suh, “and look forward to the year ahead. Despite the current economic climate, I believe Hankook will be able to move forward by continuing to take our utmost efforts in tailoring to the needs of each and every market worldwide through the on-going research and development of innovative products.

"We hope to increase distribution and strengthen our brand value by providing quality products and growing as a strategically strong company that carries effective corporate management and manpower worldwide."

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