Hankook Tire aims for No 5 slot by 2012 – report

Seoul, Korea — Korean tyre maker Hankook Tire wants to be the fifth largest tyre maker in the world by 2012. Just a week ago Korean competitor Kumho announced its ambition to rise to fifth position by 2015.

Hankook’s CEO Cho Choong-hwan said the growth will come from China, but that his company will also make inroads in Europe and elsewhere, according to reports in the Korean press.

Cho was speaking at the company’s results meeting where Hankook reported a 22 percent decline in earnings due to…

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