Hankook Tire assigned first-time rating from Moody’s and S&P

For the first time Hankook Tire has been rated by the international credit rating agencies Moody’s and Standard & Poor’s (S&P). The ratings on the level of multi-national companies reflects Hankook Tire’s strong position as a global premium tyre brand.

Seoul, Korea / Neu-Isenburg, Germany, August 17, 2017 – Leading global tyre company Hankook Tire, announced that the company has been assigned for Baa2 and BBB ratings from the international credit rating agencies, Moody’s and Standard & Poor’s.

Rating agencies have recognised that Hankook Tire has a high level of operational efficiency, as evidenced by its robust profitability and low financial leverage. Hankook Tire’s solid financial structure is based on a prudent financial policy. Its brand value through the steady growth of sales of the Ultra High Performance Tires (UHPT) and its premium Original Equipment (OE) supply were also taken into consideration. Hankook Tire’s first-time rating of Baa2 and BBB is in the same rating category as other Multi-National Corporations (MNC) such as Marriott, Ford and Fedex which were also assigned by Moody’s and S&P.

Mr. Seung Hwa Suh, Vice Chairman & CEO of Hankook Tire said, “The ratings prove our effort as a global leading tyre company. Based on our innovative technology, Hankook Tire will continue to do its best to pioneer into a technological leader and to lead future driving.”

Meanwhile Hankook Tire presented the Hankook Technodome, a Research & Development center opened in October 2016 with the aim to strengthen its global R&D capabilities and create a new level of technology leadership and quality competitiveness. As a result of Hankook Tire’s efforts to fulfill its social responsibilities, the company has become the first Korean tyre company to be recognised as a global and top-tier sustainability management company. This is evident in Hankook’s place within the ‘2016 Dow Jones Sustainability Index World’, a global sustainability evaluation and social responsibility investment index.

About Hankook Tire

Hankook Tire manufactures globally innovative, award-winning radial tyres of proven superior quality for passenger cars, light trucks, SUVs, RVs, trucks, and buses as well as motorsports (circuit racing/street circuits/rallies).

Aspiring to bring consumers the utmost excellence in product quality, technological excellence and driving satisfaction, Hankook Tire continuously invests in research and development maintaining five R&D centres and eight production facilities around the world. Bespoke tyre solutions for the European markets as well as European Original Equipment according to the requirements of leading premium car manufacturers, are developed in the company’s regional Technical Centre in Hanover/Germany. Production for the European region is taking place in the state-of-the-art manufacturing site in Rácalmás/Hungary which was inaugurated in June 2007 and is continuously being expanded.

Hankook Tire’s European headquarters are located in Neu-Isenburg near Frankfurt am Main in Germany. The manufacturer operates further branches in several European countries and sells its products through regional distributors in other local markets. Hankook Tire employs approximately 20,000 people worldwide and sells products in over 160 countries. The company has been the technical partner and exclusive tyre supplier of the Generation 3 for the FIA ABB Formula E World Championship since 2023. Internationally leading car manufacturers rely on tyres made by Hankook for their original equipment. Approximately 38 percent of the company's global sales are generated within the European region.

For more information please visit www.hankooktire-mediacenter.com or www.hankooktire.com

Hankook Tire Europe GmbH | Marketing Communications Europe | Siemensstr. 14, 63263 Neu-Isenburg | Germany

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