Hankook targets top-tier position in Europe and North America

Seoul – Hankook Tire has set a goal of achieving a "top-tier" market position in Europe and North America by 2030, towards becoming a global ‘top-five' tire maker with annual sales of $13 billion (€11.3 billion).

Under its 2030 mid/long-term strategy, Hankookx is targeting a 6.5% share of the global market, with annual production capacity of 150 million tires, said its recently issued 2025 ESG report.

Furthermore, the company aims to achieve a top-tier premium positioning for the Hankook brand, and to be ranked among the top three tire makers in terms of technology leadership.

In the EV segment, the South Korean tire maker has set itself the target of ‘no. 1 position’ over the next five years, the report continued.

The goal is to "emerge as a global top-tier company that leads the future automotive industry" by strengthening core business, technology leadership, innovation and premium branding.

In North America, Hankook said its Tennessee plant "will soon" add production capacity for 1 million truck and bus radial (TBR) tires/year – Hankoook's first full-scale TBR manufacturing site in the US.

The expansion will support the launch of the fifth-generation AL52, DL52 and TL52 tires for the North American long-haul segment, which incorporate the company's latest technologies.

Hankook said the new products, together with the Tennessee expansion (ERJ report), are expected to "play a pivotal role" in supporting its premium strategy and increasing its market share in the US. 

The Korean group currently operates eight production sites across Korea, China, the US, Hungary and Indonesia, with annual production capacity of more than 100 million tires.