Hankook Records 25% Rise In Operating Income During 2016

South Korean tyre making giant, Hankook Tyre has recorded a jump of almost 25% in their operating profit. This was made possible due to the robust sales of their high-performing and ultra-high performing premium tyres.

Because of the fact that ultra-high performance (UHP) tyres, premium-class tyres are priced almost double than the normal ones. Hankook was able to reclaim its spot in the “1 trillion won club”. In 2016, almost 35% sales were of ultra-high performance tyres. The company has also worked hard to create its brand awareness by supplying original equipment tyres to major car companies. Hankook provide OE tyres to Ford’s Lincoln MKX, Tesla’s Model 3 electric vehicle, Porsche’s Macan sport utility vehicles and Mercedes-Benz S-Class sedan.

According to the company, they are targeting an operating profit of 1.1 trillion won and sales of 7.2 trillion won during the year 2017.

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