Hankook Tire and Technology signed a sales purchase agreement with a private equity firm to acquire a 23 percent stake in Hanon Systems, the world's second-largest automotive thermal management supplier, for 1.23 trillion won.
Hankook Tire and Technology is spending another 1.73 trillion won ($1.3 billion) to take over Hanon Systems, the world's second-largest automotive thermal management supplier.
The latest move from MBK Partners came after Cho Yang-rai, honorary chairman and the patriarch of the family, weighed in on the dispute, siding with his younger son.
Hankook Tire and Technology will supply its EV-dedicated tires to BYD's 1-ton truck T4K, the Chinese brand's first electric truck for Korea.
Prosecutors indicted Hankook Tire and Technology Chairman Cho Hyun-bum without detention on Friday for breach of trust.
Prosecutors indicted Hankook Tire and Technology Chairman Cho Hyun-bum on Monday on several charges including illegal inter-affiliate deals, embezzlement and breach of trust.
Hankook Tire and Technology has taken the top spot in the tire market for electric vehicles (EV).
Firefighters extinguish the remaining flames on the third day of a fire that broke out at Hankook Tire's Factory 2 in Daejeon on Sunday night. Hankook Tire halted all tire production from its Daejeon plant on Monday after some 210,000 tires were...
Hankook Tire halted all tire production at its Daejeon plant after a fire broke out at the factory on Sunday night and burned about 210,000 tires. The date to resume production is to be announced.
A fire broke out at a Hankook Tire factory at around 10:09 p.m. Sunday in Daejeon, injuring 11 people as of Monday morning. The local fire department in Daejeon issued a level three warning with strong winds and dry conditions...
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