Another tactic, said Lee, is the expansion of local sales organisations for improved services and supplies to end-customers and business partners.
Hankook’s ambition is to become a more differentiated company to maintain what Lee described as “our momentum as one of the fastest growing tire makers”.
In the tire sector, he explained, this translates into a continuous updating and optimisation of our portfolio, tailored to regional needs.
In terms of target markets, Hankook has recently established local offices in Poland and the Czech Republic, said Lee, adding that there’s “more to follow”.
“Proximity to our customers and markets is one of our core business principles, so building and expanding upon our sales and marketing areas within these subsidiaries is one of our priorities,” he said.
He added that the company had established new warehouses in the Czech Republic, Poland, Sweden and Turkey over the course of the past two years.
As for the more established markets like Germany, UK, Italy, Spain, France or Scandinavia, brand awareness and preference is core of the future business strategy.
In response to possible influx of Chinese tires into Europe after heavy US duties, he said: “we assume that that we see more of these flow into the European market as Chinese tire makers will try to intensify their sales in the region.