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The Hankook Tire group, based in Seoul, South Korea is the seventh largest tire company in the world . Established in 1941 as the Chosun Tire Company, it was renamed Hankook Tire Manufacturing in 1968. Hankook Tire’s worldwide reputation has largely grown due to its radial tire and bias-ply tire production. The company now supplies tires as original equipment to the Hyundai Motor Company, Toyota Motor Corporation, Ford Motor Company trucks, General Motors trucks, International Truck and Engine Corporation, and others. In addition to producing about 50 million tires per annum, the company also sells batteries, alloy wheels, and brake pads.
According to Modern Tire Dealer, Hankook’s new tire sales for 2007 were $3.5 billion, a 20.7 percent Year-over-Year increase from 2006 ($2.9 billion) “Hankook” means “Korea” in Korean. These are quoted from Hankook’s European website.