Hankook Tire Reports Q3 Sales of KRW 1.8866 Trillion and Operating Profit of KRW 224.6 Billion

[Asia Economy Reporter Kiho Sung] Hankook Tire & Technology (hereinafter Hankook Tire) achieved sales of 1.8866 trillion KRW and operating profit of 224.6 billion KRW based on global consolidated management performance in the third quarter of this year.

Hankook Tire announced these results through the Financial Supervisory Service's electronic disclosure in February. In major regions such as Europe, North America, and China, sales of replacement tires increased, resulting in a 2.8% increase in sales and a 24.6% increase in operating profit compared to the same period last year. Compared to the previous quarter, sales increased by 38.3% and operating profit by 220.5%, showing a recovery trend.

These results were helped by increased sales of replacement tires in the European and U.S. markets. In particular, the Chinese market, where both new car tires and replacement tires sales increased, led growth with the proportion of tires for passenger cars over 18 inches rising to 33.6%, up 8.9 percentage points compared to the same period last year.

Hankook Tire stated, "We will continue to strengthen our quality competitiveness to overcome the stagnant market environment," adding, "We plan to maintain continuous growth by expanding sales of tires over 18 inches, securing a diversified product portfolio, and optimizing distribution strategies for each overseas region."

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