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Hankook Tire changes its name to Hankook Technology Group

Hankook Tire changes its name to Hankook Technology Group

Hankook Tire Group has changed its name to Hankook Technology Group to strengthen future new business development strategy with innovation based on cutting-edge technology.

Hankook Tire Group will also change names of its holding companies and major affiliates to enhance future competitiveness based on technological innovation.

The company said that the name change of Hankook Tire Group is an attempt to cope with the era of the fourth industrial revolution, which increases the uncertainty of the future industrial ecosystem, to strengthen the business competitiveness of individual affiliates, and to lay the groundwork for continuously promoting destructive innovation that will challenge new business development.

It embodies the company’s long-term vision and willingness to realize sustainable growth by unifying mid-to-long-term missions and strategies at the group level, creating innovative technologies based on advanced technologies in various fields, and finding new growth engines for the future, said the company.

In addition, Hankook Tire Group will fundamentally innovate the processes and models of all business areas, and enhance global leadership through strategies and systems to realise digital transformation that has emerged as a major topic of the new economic paradigm. The company plans to lead the change of the future industry by establishing a digital-based innovation model that integrates various information and communication technologies such as artificial intelligence and big data in all fields from production to distribution, sales and service.

At the same time, ‘Proactive Culture’, a unique corporate culture where members voluntarily become the subject of innovation, will spread throughout the affiliates, which will establish a culture of innovative and creative communication and collaboration throughout the group. To this end, the company will continue to strengthen its corporate culture to remove uniform organisational culture, to create a passionate working environment, and horizontal communication.

The name change applies to Hankook Tire Worldwide Co., Ltd., Hankook Tire Co., Ltd., ATLASBX Co., Ltd., MK Technology Corp., EmFrontier, Inc., DAEHWA ENGINEERING & MACHINERY Co., Ltd., and HK Automotive Co., Ltd.. Holding companies and major affiliates that form a unified brand system will expand the group’s corporate brand identity to a technology-based innovation group, and consolidate their position as a global company by enhancing global competitiveness, creating a synergy effect to boost shareholder value as well.

Hankook Tire Worldwide, the holding company, changes its name to ‘Hankook Technology Group’. Hankook Tire Worldwide plans to redefine the corporate brand ‘Hankook’ as a technology-based innovation group and focus more on enhancing shareholder value through raising brand awareness. In order to strengthen competitiveness in a rapidly changing global business environment, Hankook Technology Group Co., Ltd. will lead the future industry through continuous investment and secure the technology leadership to lead future business in various fields.

Hankook Tire, a core affiliate, changes its name to ‘Hankook Tire & Technology’. Hankook Tire & Technology will focus on securing future-oriented innovation technologies and leading the automotive industry. In particular, the company will develop a smart factory and gain a foothold through development and intellectualisation of its production scheduling system, optimisation of process automation system, and utilization of big data and artificial intelligence.

With such change, the company plans to reinforce its position as a leading global technology company through strengthening quality growth and competitiveness of the tire business, as well as the new growth power system centered on technology, brand, and network.

ATLASBX will change its name to ‘Hankook AtlasBX’. Hankook Atlas BX is a leading company in the Korean battery industry that has been developing through creative innovation and challenge for over 70 years since its establishment in 1944. With the name change, the company will leverage its global brand awareness and network to strengthen its global competitiveness and jump up to become a leading battery manufacturer in the global market.

The name of MK Technology Corp. will change to ‘Hankook Precision Works’. Hankook Precision Works is a company specialized in mold manufacturing that leads business areas of tyre molds, tyre curing containers and precision parts with its own casting technology and precision processing technology. Since 2015, when MK Technology developed mold parts for tyres by introducing the industry’s first metal 3D printers, the company has been consistently pursuing innovation. It will continue to lead the industry by developing its own technology through continuous research and development (R&D).

EmFrontier, Inc. changes its name to ‘Hankook Networks’. Hankook Network is a professional IT service and logistics engineering company. The company constantly develops innovative solutions for the era of Industry 4.0 based on its IT solutions and builds up experience optimized for Supply Chain Management (SCM), Manufacturing Execution System (MES), and legal and patent (L&P). Hankook Networks will reinforce its global competitiveness by upgrading its business along with the change of its corporate name and will pay attention to the value improvement not only in the domestic market but also in the global market.

DAEHWA ENGINEERING & MACHINERY Co., Ltd. will become ‘Hankook Engineering Works’. As a builder of essential machines used in tire manufacturing, it has played a leading role in the localisation of tire manufacturing technology and equipment by developing the latest technology through its own research center. In addition, the company has become a pioneer in the tire equipment manufacturing sector through continuous technological innovation through developing high-end equipment such as unmanned molding machine and high productivity molding machine.

HK Automotive Co., Ltd. will change to ‘Hankook Car & Life’. It is a corporation newly established in 2017 which carries out business of imported auto parts, 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 new concept service that can meet various demands of customers along the automotive aftermarket business.

On the other hand, ‘Model Solution’ is an affiliate that does not change its name. Hankook Technology group excluded Model Solution from the name change, in order to independently operate its unique business area. Model Solution designs and manufactures prototypes of new products that incorporate cutting-edge technologies such as IT and medical devices via various solutions including mock-up, processing and simple molding. Model Solution began its service in 1993 and currently has over 420 clients globally.

The company plans to expand the entire process 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.

Incorporated in the integrated branding system, the major affiliates of Hankook Technology Group will spur development of innovative technologies and services along with the ‘Hankook’ brand in various business activities such as sales, recruitment, and community, which will contribute to consolidating the future competitiveness of the entire group.

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