Hankook maintains a leading position in China

Over the past three years, Hankook has been extremely successful: it has gained significant recognition in China and this year plans to further improve its performance through increased production capacity. While the company's two plants in Zhejiang and Jiangsu currently produce approximately 30 million tires per year, with the completion and commissioning of a new plant in Chongqing, the planned annual output of tires is expected to reach 42 million. Meanwhile, it's worth noting that in the company's home country, 40 million tires are produced per year. In other words, if nothing extraordinary happens, in the near future, more tires will be produced in China than in South Korea. Without a doubt, this is a major breakthrough for Hankook.

Recall that three years ago, Hankook developed a medium- and long-term development plan. According to this plan, by 2016, the company should rise to fifth place in the global ranking of tire manufacturers. Currently, Hankook occupies seventh place. And the increase in capacity in the Chinese market, of course, is one of the strategic steps towards achieving these ambitious plans.