Hankook increased revenue and operating profit

In the third quarter of 2024, Hankook sales reached 2.435 trillion won (1.8 billion dollars), which is 4.1% more than in the same period last year. Operating profit increased by 18.6% to 470.2 billion won (340 million dollars).

In the PCLT segment (passenger and light truck tires), the share of tires with a diameter of 18 inches or more in sales volumes increased by 1.4 percentage points to 44.8%. The greatest demand for products in this category is in China (66.5%), followed by South Korea (58%), North America (52.8%), and Europe (34.6%).

In 2024, Hankook continued to consistently expand its supply of tires for premium vehicles such as the BMW M5 and Mercedes-AMG GT Coupe, and now more than 280 car models from around 50 brands are equipped with Korean brand tires, including Audi, BMW, Mercedes-Benz, Porsche, BYD, Tesla, and others.

Hankook also increases the value of its brand through its participation in motorsports and is a tire supplier and official partner of prestigious championships such as Formula E and Lamborghini Super Trofeo. In addition, the company is considered one of the leaders in the segment of tires specifically designed for electric vehicles. Hankook offers a full range of tires for electric vehicles called iON, which now includes 236 sizes in the range from 16 to 22 inches.

The latest innovations from Hankook are the studded tire Hankook iON Nordic ice for electric vehicles and the friction tire Hankook Winter i*cept iZ3 for harsh winters, which has also been released on the Russian market. Both innovations are available in versions for crossovers and SUVs.