Hankook Tire's China Success
In the increasingly fierce global tire industry competition, both domestic and foreign brands are generally facing the dual pressures of slowing growth and technological iteration, with the industry as a whole entering a critical stage of transformation and upgrading.
However, Hankook Tire, which has cultivated the Chinese market for decades, has achieved comprehensive breakthroughs in four dimensions in the past two years: sales volume, technology, brand, and market structure. With steady growth and strategic foresight, it has become a typical example of a foreign company continuously cultivating the Chinese market and achieving high-quality development.
Achieving Market Milestones, Demonstrating Strong Growth Resilience
On February 4, 2026, Hankook Tire announced its global performance for fiscal year 2025: Full-year sales revenue reached 21.2022 trillion won (approximately 100.71 billion yuan), and operating profit reached 1.8425 trillion won (approximately 8.752 billion yuan).
Among these, tire business sales exceeded 10 trillion won for the first time, reaching 10.3186 trillion won (approximately 49.013 billion yuan), a year-on-year increase of 9.6%; operating profit reached 1.6843 trillion won (approximately 8 billion yuan). As of April 2025, Hankook China's cumulative sales exceeded 600 million tires, covering its three core business segments, fully demonstrating its deep roots and continued growth momentum in the Chinese market.
Seizing the New Energy Vehicle Market, Gaining a First-Mover Advantage
With the penetration rate of new energy vehicles in China exceeding 50% in the second half of 2024, Hankook Tire, with its forward-looking strategy, took the lead in seizing market dominance. The iON series, launched in 2023 specifically for electric vehicles, leverages EVOLUTION core technology to achieve breakthroughs in key dimensions such as range, quietness, and wear resistance.
It has been successfully adapted to multiple high-end new energy vehicle models and has established deep partnerships with Xiaomi Auto and Baidu's autonomous driving platform "Luobo Express," further consolidating its leading position in the new energy tire field.
Strengthening Brand Power and Deepening the High-End Original Equipment Market
To date, Hankook has provided original equipment for more than 280 models from over 50 globally renowned brands, including BMW and Porsche, with a cumulative sales volume exceeding 200 million tires.
Deep collaborative R&D with luxury brands has enabled many of its exclusive original equipment tires to earn BMW's "Star Mark" certification and pass rigorous testing at tracks such as the Nürburgring Nordschleife. Since launching its high-end OE (Original Equipment Manufacturer) project in 2006, Hankook has steadily risen to the core of the global high-end original equipment market.
Driving Value Transformation, Creating a New Engine for Profit Growth
In line with the trend of consumption upgrading, Hankook continues to promote the transformation of its product structure towards higher value, with large-size tires maintaining a leading position. In 2024, its 18-inch and larger tires accounted for an average of 65% of the Chinese market, further increasing to 69.3% in the fourth quarter, far exceeding other major global markets, becoming the core engine driving profit growth and successfully achieving a strategic transformation from "scale expansion" to "value enhancement."
Strengthening Local Foundation, Building Long-Term Development Advantages
Since entering the Chinese market in 1996, Hankook has established three major production bases in Huai'an, Jiaxing, and Chongqing, and set up a China R&D Center in 1998, building a fully localized system from R&D and production to the market.
Hankook Tire's tires, manufactured in China, are exported to over 180 countries and regions worldwide, fully demonstrating its deep commitment to the global market. Today, Hankook has grown from a market explorer to an industry leader, becoming a vivid example of the localization of foreign-invested enterprises.
Looking ahead, Hankook Tire will continue to adhere to its localization strategy, closely following Chinese market trends and consumer demands, driven by continuous technological innovation, to launch more targeted products and services, and continue to write a new chapter of mutual growth and development with the Chinese market.
