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French tire giant Michelin aims to expand its presence in Korea by franchising its Tyremore tire and service centers.
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 tire manufacturer is seeking to capitalize on the growing EV market with a European factory and the release of a dedicated tire, the EnnoV.
The ECSTA HS52 scored high in performance and safety by Allgemeiner Deutscher Automobil-Club.
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.
Hyundai Motor and Kia have unveiled a snow chain-integrated tire to increase safety on slippery winter roads.
Another sibling feud broke out at Hankook & Company as Cho Hyun-sik, an older brother of the company's Chairman Cho Hyun-bum, attempts to become the tire giant's largest shareholder.
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.
Korea JoongAng Daily Sitemap