Korea & Company Reports 2Q Operating Profit of 59.5 Billion KRW, Up 502% YoY

[Asia Economy Reporter Yu Je-hoon] Hankook & Company announced on the 18th that its sales in the second quarter reached 231.3 billion KRW, and operating profit was 59.5 billion KRW, representing increases of 31.7% and 502.2% respectively compared to the same period last year. Hankook & Company is the holding company of Hankook Tire & Technology.

Hankook & Company stated that sales of new and replacement tires grew compared to the second quarter of last year due to recovery in key regions such as Europe, North America, and China. In particular, the proportion of tires for passenger cars with 18 inches or larger rims increased by 5.4 percentage points from last year to about 38%.

Hankook & Company is a business-type holding company formed through a merger with Hankook AtlasBX in April. This year marks its 80th anniversary, and the group announced its future strategy and growth portfolio 'S.T.R.E.A.M' along with a commemorative emblem.

Hankook & Company stated, "We plan to continue leading investments to discover core and new businesses to strengthen future business competitiveness."

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