Kwak Yeon-soo is a digital editor at The Korea Times creating, editing and curating digital content for the newspaper’s website, mobile app and social media. She previously covered a diverse array of cultural, political and business topics.
Hankook Tire, affiliates announce name changes
By Kwak Yeon-soo
Hankook Tire & Technology logo
By Kwak Yeon-soo
Hankook Tire Group will change the names of its affiliates as it seeks expansion in next-generation technologies, the group said Wednesday.
Hankook Tire Worldwide, the holding company, will change its name to Hankook Technology Group to reflect the company's strong desire to become a high-tech company beyond being a global tiremaker.
In March, Hankook Tire Group was embroiled in controversy over the new corporate name, as it is used by Kosdaq-listed auto parts company Hankook Technology.
Hankook Tire said then there is “no legal problem at all” because its proposed name is Hankook Technology Group.
The name change will also affect its core unit Hankook Tire's nameplate, which will become Hankook Tire & Technology. It plans to utilize big data and artificial intelligence to build smart factories, the company said.
The group's battery subsidiary AtlasBX will become Hankook AtlasBX. Its steel processing equipment manufacturing outfit Daehwa Engineering & Machinery will be renamed Hankook Engineering Works.
The group's IT subsidiary emFrontier will become Hankook Networks. MK Technology, which specializes in producing molds and machine parts for tire production, will be rebranded as Hankook Precision Works
The establishment of Hankook Car & Life will strengthen automobile repair services, along with tire sales, the company said.
“A lot of work has been undertaken to ensure that name changes reflect our extensive businesses around the world,” a Hankook Tire & Technology official said.
“We hope our rebranding strategy will reinforce collaboration among affiliates and bring about synergy effects.”