Hankook Tire, Q2 Revenue of Over 5.6 Trillion Won
A leading global tire company Hankook Tire & Technology (Hankook Tire) announced its consolidated global financial results for the second quarter of 2026, reporting revenue of 5.6824 trillion ($4.01 billion) and operating profit of 559 billion won. Revenue and operating profit rose 5.8% and 58.1% ye
Hankook Tire & Technology, a prominent global tire manufacturer, disclosed its second quarter financial results for 2026, revealing a total revenue of 5.6824 trillion won, equivalent to $4.01 billion, and an operating profit of 559 billion won. Both revenue and operating profit experienced significant growth compared to the previous year, increasing by 5.8% and 58.1%, respectively.
The tire segment witnessed an 11.8% year-over-year rise in sales, totaling 2.8073 trillion won, while the operating profit boosted by 39.5% to 483.2 billion won, achieving an operating margin of 17.2%. Hanon Systems, Hankook Tire's subsidiary since 2025, reported sales of 2.8752 trillion won and operating profit of 103.7 billion won during the same period.
This quarter marked a turning point as Hanon Systems returned to net profitability. The company's success can be attributed to its expansion of high-value-added products, such as 18-inch and larger tires and electric vehicle (EV) dedicated tires. Growth in revenue was driven by increased original equipment (OE) tire supply and stable replacement equipment (RE) tire demand in key markets, notably Europe and China.
In China, replacement tire sales saw a notable surge due to the entry of EVs into their tire replacement cycles. Moreover, Hankook Tire showcased its technological prowess in the premium sports car market by supplying tires for the Porsche 911 Carrera and the Audi Q7, Q9, and INFINITI QX65 SUVs. The company's commitment to the global EV tire market is further evidenced by the launch of its 'iON' brand, the world's first comprehensive EV-specialized tire lineup, which incorporates innovations from the FIA Formula E World Championship and earned recognition in design awards and tire tests.
Hankook Tire's strategic expansion of its manufacturing facilities in Tennessee and Hungary positions the company to meet the increasing demand in key markets like the United States and Europe, solidifying its leadership position in the tire industry.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
