KOREA (SOUTH): Hankook Tire posts record global sales

Revenue of Hankook Tire reached over 7 trillion won in 2012, up 8.3 percent from 6.4 trillion won a year earlier, according to consolidated financial statements.

Its operating profit reached some 913 billion won, up 57.9 percent from 578 billion won in the same period.

The company attributes its record-breaking revenue to increased supplies of its ultra-high-performance tires to global automakers such as BMW, Audi, Volkswagen and Chrysler.

It especially saw robust sales in the emerging markets of Russia and South America, the company said in a press release.

Its Korean sales reached over 4.2 trillion won in 2012, up 6.7 percent from 3.9 trillion won a year ago. It posted an operating profit of some 545 billion won, up 43.5 percent from 380 billion won.

Hankook Tire said that it is targeting global sales of over 7.3 trillion won in 2013.

Source: Daily "The Korea Herald", Seoul; 1 Feb 2013

(Syed Rashid Ali, Karachi, Pakistan)