Hankook Is Looking for More Automotive Industry Acquisitions

Hankook Tire Co. Ltd. is looking to grow through acquisitions, said Hyun Shick Cho, chief marketing officer.

According to a recent Reuters news item and confirmed by Hankook, Cho said the company is looking at more acquisitions in the automobile industry to find new engines of growth.

Hankook's "deliberations on the matter are at a preliminary stage, Cho Hyun-shick, chief marketing officer of Hankook Tire, told a news conference," wrote Reuters.

Hankook purchased a 19.49% stake in Korean car parts manufacturer Halla Visteon Climate Control Corp. in December 2014. The purchase makes Hankook the second largest stakeholder in the company.