Hankook Tire Accomplishes Earnings Surprise in 3Boasting global operating profit rate of 19.1%

§    Global operating profit rates at 19.1% marks significant figures in the global tire industry
§    Significant increase in 3Q global consolidated sales at KRW 1.44 trillion and consolidated operating profits at KRW 275
     billion with 26.4%, 536.4% YoY respectively
§    Ultra-high performance tires continue to increase in popularity with sales increase of 18.2% YoY
§    Global performance proves Hankook Tire’s high-quality products and services



Seoul, Korea, 20th October 2009  - Hankook Tire, the seventh-largest and one of the fastest growing tire companies in the world, announced their 2009 3Q earnings results today, boasting an increase in sales of 26.4% YoY at KRW 1.44 trillion, along with an astounding increase in operating profits of 536.4% YoY at KRW 275 billion. Hankook Tire also attained an operating profit rate of 19.1%, to mark significant figures in the global tire industry.

With the expansion of demand from global consumers, Hankook Tire’s products and services have continued to rise in fame as they have been able to hold onto their number one spot in China by achieving an operating profit rate of 17.2%. In addition, Hankook Tire’s Hungary operations reached total sales of HUF 13.2 billion with a 67% YoY sales increase through production stabilization and improvement in productivity. Also, with Hankook Tire’s market diversification strategies in effect, it saw an increase in sales from emerging markets including the Commonwealth Independent States (CIS) and the Middle East

In addition, as the reputation of Hankook Tire’s premium ultra-high performance (UHP) tires continue to grow; sales expansions of these tires have proven the quality of Hankook Tire’s products with continuously expanding figures at 18.2% YoY. In particular, the Korea operations saw near doubling figures at 92.8% YoY (KRW 23.4 billion) together with European nations at 32.9% YoY (KRW 40.1 billion).

Hankook Tire’s Korea operations’ 3Q non-consolidated revenue was at KRW 762.1 billion with a 14.1% YoY increase, while its operating profits were at KRW 155.9 billion with a 20.5% operating profit rate, resulting in a 189.5% YoY increase. Hankook Tire’s strong market share presence in Korea, which exceeds 50%, helped to increase its sales revenue by 33% YoY, while North America and Europe also boasted sales increases of 26.7% and 10.2% YoY, respectively.

Mr. Seung Hwa Suh, President & CEO of Hankook Tire said, “Despite the economic climate, Hankook Tire has continued to stand out with record high performance. Hankook Tire’s continuous efforts to enhance the quality of its products and services have supported us in winning the trust of consumers.

Mr. Suh continued, “The tire industry is extremely competitive and as such, it is essential that we continue investments to ensure sustainable growth. Hankook Tire remains positive about further growth prospects for the future, as we continue to increase brand preference and devote our utmost in providing consumers with value-added high-quality products and services.”

Hankook Tire will dedicate itself to maintain its investment in technology, brand reputation, and on-going support of consumer needs in order to become a ‘Leading Global Tire Company.