Hankook Tire to supply tires for new BMW

By Yoon Ja-young

Hankook Tire will supply tires for BMW’s new 7 series. The country’s top tire manufacturer is bolstering its prestige in the global tire industry by supplying to big names like BMW, Mercedes-Benz, Audi and Porsche.

Hankook Tire announced Tuesday that it would be supplying OE tires to BMW’s flagship model. OE refers to tires on cars when they come from the factory.

“Following the new Benz S Class and Porsche, Hankook Tire will be supplying tires for the BMW 7 series,” said Cho Hyun-shick, president and CEO of Hankook Tire Worldwide, the holding company for Hankook Tire. “It shows that Hankook has firmly established itself in the market previously dominated by manufacturers in developed countries.”

Hankook Tire, top in the domestic market and seventh globally, has been supplying tires for 283 models of 37 brands.

The new 7 series will be supplied with Hankook’s third-generation run-flat tires ― the Ventus S1 evo2 Runflat and Winter i*cept evo Runflat ― boasting a high performance and cutting-edge technologies.

Used in premium brands like BMW and Benz, run-flat tires offer enhanced safety. They can keep going for some time even after a puncture. Only manufacturers with the most advanced technology can produce the tires.

“We have proved we have the top technology and brand value by supplying tires for the new 7 series,” said Hankook Tire vice chairman Suh Seung-hwa.

Hankook Tire has been supplying tires for BMW’s series 1 to 5 as well as sports utility vehicle models X1 and X5. It aims to supply OE tires for all BMW models within a few years.

Cho said the company would lift its global market share to 10 percent from the current 8 percent, and hoped to supply tires for supercars such as Ferrari and Bentley.

The company will also consider diversifying its business portfolio to secure new growth engines, on top of nurturing the tire business based on stronger technology and multi-branding.

It is scheduled to complete Hankook Tire Technodome this year, a research and development center.

It will also complete construction of its manufacturing facility in Tennessee, to increase market share in North America.

Hankook also plans to expand its global strategic brand Laufenn, launched in 2014.