"Can Negotiate"... Can the Name 'Hanguk Technology' Be Used?

[Asia Economy Reporter Kiho Sung] Hankook Technology Group (formerly Hankook Tire Worldwide) has lost another lawsuit regarding the use of its company name. The opposing party, Hankook Technology, stated that if Hankook Technology Group acknowledges the misuse of the company name and requests negotiations, they may be willing to engage in dialogue. However, Hankook Technology Group appears to be compelled to continue the prolonged litigation.

According to the legal community on the 15th, the Civil Division 60 of the Seoul Central District Court dismissed the objection filed by Hankook Technology Group against the provisional injunction prohibiting the use of the trade name on the 13th.

Hankook Technology Group has been using its current name since the end of last year after the former Hankook Tire Co., Ltd. transitioned to a holding company structure. However, in May of this year, the Seoul Central District Court partially granted Hankook Technology's provisional injunction request, stating, "Hankook Technology Group shall not use the trade name on signboards, advertisements, business plans, business cards, booklets, etc., of companies and holding companies engaged in the manufacture and sale of automobile parts." In response, Hankook Technology Group filed an objection in the same month.

Hankook Technology, a KOSDAQ-listed company, considers the court's ruling a natural decision but left room for negotiation. A representative of Hankook Technology said, "This is a case where a large corporation continued to use the trade name despite the court's injunction," adding, "If Hankook Technology Group acknowledges the misuse of the trade name and requests negotiations, we are willing to engage in dialogue."

In May, Hankook Technology submitted an indirect enforcement petition to the court, requesting an order for a daily payment amount for each day of trade name infringement. Industry insiders predict that if Hankook Technology Group is required to pay a usage fee, it could amount to several billion won annually.

Additionally, it is known that Hankook Technology reported related matters to the offices of lawmakers in the relevant standing committee ahead of the National Assembly's National Policy Audit, where Cho Hyun-bum, CEO of Hankook Tire & Technology, was scheduled to appear before the National Assembly's Political Affairs Committee.

Hankook Technology Group maintains that the court's final judgment has not yet been made. A representative of Hankook Technology Group stated, "Although Hankook Technology is an automobile company, it mainly operates in real estate and construction," and added, "We plan to appeal."

This content was produced with the assistance of AI translation services.