Hankook Tire to change name to Hankook Technology

May 10, 2019

Korean Hankook Tire Group will undergo a name change to Hankook Technology Group in the advent of the fourth industrial revolution. The tyre manufacturer’s holding companies and affiliates hopes to together reflect a unified, global brand that will strengthen future business, promote technological innovation and discover new growth engines for business development. The change is in line with the company’s long-term vision and willingness to realise sustainable growth by unifying mid-to-long-term missions and strategies at the group level.

Hankook Technology will gradually innovate processes and models of all its business areas and enhance global leadership through strategies and systems according to the new economic digital transformation. For this, the company will establish a digital-based innovation model that integrates various information and communication technologies, such as artificial intelligence and big data, in business areas from production to distribution, sales and service.

The company will incorporate its existing ‘Proactive Culture’ among its affiliates to remove a bland, uniform organisational structure, thus creating a passionate working environment that features horizontal communication. The members of a ‘Proactive Culture’ voluntarily become the subject of innovation, which will establish a unique culture of innovative and creative communication and collaboration throughout the group.

The ‘Hankook’ brand has planned a gross expansion from product development to mass production, in order to become a total solution company through cutting-edge technology and ‘One Stop Solution’ platform, and move forward as the mainstay of securing the next-generation growth engine. The major affiliates of Hankook Technology will spur development of innovative technologies and services in various business activities such as sales, recruitment, and community.

The name change applies to Hankook Tire Worldwide, Hankook Tire, ATLASBX, MK Technology, EmFrontier, Daehwa Engineering& Machinery, and HK Automotive – these will form a unified brand system and consolidate their combined position as a global company by enhancing global competitiveness, creating a synergy effect to enhance shareholder value as well.

In order to strengthen competitiveness in a rapidly changing global business environment, Hankook Technology (previously Hankook Tire Worldwide) will lead the future industry through continuous investment and secure the technology leadership to lead future business in various fields.

Hankook Tire & Technology (Hankook Tire) will focus on securing future-oriented innovation technologies and leading the automotive industry. The company will develop a smart factory and gain a foothold through development and intellectualisation of its production scheduling system, optimise its process automation system, and utilise big data and artificial intelligence.

Hankook AtlasBX (ATLASBX) is a pioneering company in the Korean battery industry that was established in 1944.The company seeks to leverage its global brand awareness and network to strengthen its global competitiveness and boost its position in the global market.

Hankook Precision Works (MK Technology) specialises in mould manufacturing that supplies tyre moulds, tyre curing containers and precision parts with its own casting technology and precision processing technology. In 2015, MK Technology developed mould parts for tyres by introducing the industry’s first metal 3D printers, and will continue to lead the industry by developing its own technology through continuous research and development (R&D).

Hankook Network (EmFrontier) is a professional IT service and logistics engineering company that constantly develops innovative solutions for Industry 4.0 based on its IT solutions, Supply Chain Management (SCM), Manufacturing Execution System (MES), and legal and patent (L&P). Hankook Networks will upgrade its business to increase its value improvement in the domestic and global tyres market.

Hankook Engineering Works (Daehwa Engineering & Machinery), a builder of essential machines used in tyre manufacturing, it has developedhigh-end equipment through its own research centre, such as unmanned moulding machine and high productivity moulding machine.

Hankook Car & Life (HK Automotive) was recently established in 2017 to carry out imported auto parts business, maintenance service, and dealership. The company plans to expand the total service store centered on import car maintenance, and create opportunities for continuous growth by developing a new concept service in the automotive aftermarket business.

However, Hankook Technology will exclude its affiliate, ‘Model Solution,’ from the name change. Model Solutions will independently operate its unique business area in the design and manufacture of new products that incorporate cutting-edge technologies such as IT and medical devices via various solutions including mock-up, processing and simple moulding. Model Solution began its service in 1993 and currently has over 420 clients globally.

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