Hankook Tire Books Operating Profit of IDR 2.15 Trillion

BORNEONEWS, Jakarta – Tire company Hankook Tire & Technology (Hankook Tire) posted an operating profit of 190.9 billion South Korean won or equivalent to IDR 2.15 trillion in the first quarter of 2023, increasing by 51.5 percent from the same period last year (year to year/yoy).

In an official statement received in Jakarta, Friday 26 May 2023, the President Director of PT Hankook Tire Indonesia Sales Yoonsoo Shin said that the operating profit was obtained from sales that reached 2.14 trillion South Korean won or equivalent to Rp. 23.73 trillion, growing by 17.5 percent (yoy).

According to the strategy premium brands including increasing the number of high-value products and gaining exclusive sales of electric car tires, Hankook Tire’s sales and operating profit have increased despite the difficult business environment, such as the global economic downturn, intense competition and many more.

This success was supported by the increase in tires natural materials (OE), with the stability of semiconductor supply and the increase in sales of other tires in the world, especially in the European region.

Hankook Tire has thrived in the global electric vehicle market by pioneering technologies and strategies designed for electric vehicles long before the spread of the electric vehicle business.

The company now leads the market, increasing the target number of electric car tires to about 20 percent this year of the supply of OE passenger car and truck tires, accounting for five percent in 2021 and 11 percent in 2022.

In the first quarter, Yoonsoo said Hankook Tire maintained steady progress by providing high-quality tires for electric vehicles, including utility vehicles. game (sport utility vehicle/SUV) C11 electric car owned by China’s Leapmotor electric car, Volkswagen’s small electric car called ID. Buzz, with Toyota’s first electric SUV, the bZ4X.