Hankook Publishes 2022-23 ESG Report

Hankook, the premium tyre manufacturer, has released its 2022/23 Environmental Social Governance (ESG) Report, detailing its sustainability initiatives and strategies for the current year. Notably, the Science Based Targets Initiative (SBTi) has validated Hankook's greenhouse gas emission reduction targets, committing the company to achieve net zero emissions by 2050 according to the SBTi Net Zero standard.

This marks Hankook's 14th ESG Report, following its ESG vision, "Innovation for a Sustainable Future" introduced in 2010. The report encompasses the company's sustainability activities and its medium- and long-term strategies across environmental, social, and governance areas. It places equal emphasis on three key priority areas: Eco Value Chain, Sustainable Product, and Responsible Engagement.

Hankook has been progressively strengthening its commitment to sustainable management, enhancing its ESG management system. This journey began in 2009 with the establishment of a corporate social responsibility (CSR) organisation, followed by the formation of the ESG Strategy Committee and Steering Committee in 2010. In 2018, Hankook initiated a strategic effort to implement sustainable natural rubber policies and promote an eco-friendly circular economy system. By 2021, the company established an ESG Committee within the Board of Directors, and in 2022, it unveiled a Corporate Governance Charter, cementing its commitment to transparent and ethical ESG practices.

Hankook has proactively reduced its greenhouse gas emissions, positioning itself as a leader in constructing an eco-value chain. The company has developed a comprehensive climate change response strategy and incorporated a Climate Change Committee into its management activities. It has also undertaken various energy-saving initiatives, including adopting high-efficiency equipment, optimising energy efficiency, and using renewable energy. These efforts have resulted in a 2.74 percent reduction in greenhouse gas intensity compared to the previous year.

With a firm commitment to addressing climate change, Hankook joined the Science Based Targets Initiative in March 2022 and submitted its greenhouse gas emission reduction targets. These targets align with the latest climate research findings and the goals of the Paris Agreement. By 2030, Hankook aims to achieve a 46.2 percent reduction in total direct and indirect greenhouse gas emissions (Scopes 1 and 2) generated during the production stage, compared to 2019 figures, in compliance with the SBTi validation. Additionally, the company has set a 2030 target to reduce total greenhouse gas emissions generated throughout the value chain (Scope 3) by 27.5% compared to 2019 figures. This recognition by the SBTi signifies Hankook's commitment to achieving net zero emissions by 2050 based on the SBTi Net Zero standard, a responsibility shared by approximately 5,700 companies worldwide.

Hankook is also dedicated to developing eco-friendly tyres using highly functional synthetic rubber, furthering its ESG goal of increasing the use of sustainable raw materials. Recognised for its efforts to achieve carbon neutrality, Hankook has received top ratings from multiple global ESG evaluation agencies.

Moreover, the company is actively engaged in intelligent tyre technology, incorporating sensors in the tread to detect wear and developing airless tyres like the i-Flex. To contribute to a more sustainable future, Hankook is actively involved in establishing a sustainable supply chain, implementing human rights management, promoting employee well-being, and participating in social contribution activities.

Hankook has been included in the Dow Jones Sustainability Indices (DJSI) World, a prestigious sustainability index, for seven consecutive years.

Comments (0)

ADD COMMENT

Link Copied!

Liberty Tire Recycling’s SmartMIX rubber asphalt additive (RMA) has taken centre stage as a key component as the Alabama Department of Conservation and Natural Resources (ADCNR), alongside Alabama State Parks and the Alabama Department of Environmental Management, was named a finalist in the Market Development Excellence category of the inaugural Circle of Change Awards launched by the Tire Recycling Foundation (TRF).

For its award-nominated project, Alabama State Parks selected Liberty Tire Recycling’s SmartMIX to resurface roads and parking areas at public parks. Unlike complex liquid modifiers, the SmartMIX additive from Liberty Tire Recycling offers a simpler, cost-effective solution that improves asphalt compaction, flexibility and overall durability. Manufactured entirely from recycled tyres, the material itself remains recyclable, helping Alabama’s project boost pavement longevity while generating steady, long-term demand for recycled tyre rubber.

The Tire Recycling Foundation launched this national recognition programme to honour efforts that create lasting, expandable demand for products derived from scrap tyres, integrating such materials into conventional infrastructure and public works. The award category recognises initiatives that embed recycled tyre materials into mainstream infrastructure and public works programmes.

Winners of the Circle of Change Awards, including the Market Development Excellence category, will be announced on 14 May 2026, during the Tire Recycling Conference Awards Luncheon in Denver, Colorado.

Comments (0)

ADD COMMENT

Link Copied!

Infiniteria has appointed Proman as its Engineering, Procurement and Construction partner for a circular tyre recycling facility in Uddevalla, Sweden. This collaboration marks a decisive move towards establishing what the company describes as Europe’s leading circular tyre recycling business, with the Uddevalla site serving as the cornerstone for a future network of industrial-scale plants across the continent.

The company specialises in transforming end-of-life tyres into high-value recovered materials, aiming to accelerate the transition to a more resilient circular economy. The Uddevalla facility stands as Infiniteria’s flagship project and represents the initial phase of a broader European expansion strategy.

Committed offtake agreements are already in place with major customers including Preem, Nokian Tyres and Michelin, underscoring strong industrial demand for the recovered materials.

Kajsa Ryttberg-Wallgren, CEO, Infiniteria, said, “Bringing Proman on board as our partner is a major step forward for Uddevalla. They have a proven track record in delivering complex industrial plants, and the discipline and capability they bring mark a decisive step towards starting operations. We are fully committed to Uddevalla as the long-term home of our flagship facility, to our customers and to building Europe’s leading circular tyre recycling business.”

Francisco Carlos, Managing Director, Proman Portugal, said, “We appreciate the confidence and trust placed in Proman by Infiniteria as we take on the role of Engineering, Procurement and Construction partner in the Uddevalla project. Proman brings strong global expertise and experience to the project, including project management, engineering, procurement, construction and commissioning of complex industrial facilities. We look forward to working with Infiniteria to progress the Uddevalla project towards successful completion.”

Comments (0)

ADD COMMENT

Link Copied!

Tyres Europe has released replacement tyre sales data for the first quarter of 2026, with the industry showing early signs of recovery according to an assessment by Secretary General Adam McCarthy. The figures from member companies reveal that consumer tyre segments, including passenger car, SUV and light commercial vehicle categories, rose by one percent compared to the first quarter of 2025. This modest growth follows a weak performance across the previous year.

McCarthy noted that the recovery was uneven across different tyre types. All Season tyres continued their strong momentum with a five percent increase, driven by consumer demand for year-round versatility, while summer tyres slipped by one percent as they lost further ground to all season alternatives. Winter tyres posted a sharp decline of 14 percent, which the Secretary General attributed to mild weather conditions across much of Europe. Members’ sales significantly outpaced imports, which were impacted by European produced tyres and possible regulatory action. Travel demand remained subdued during the quarter, with higher fuel prices linked to the Middle East conflict affecting the market from March.

Other segments reflected a mixed landscape. Truck and bus tyres edged up one percent, supported by improved freight activity and business sentiment before recent geopolitical developments and rising fuel costs created uncertainty. Agricultural tyres declined 11 percent amid continued caution in farm investment. In contrast, the moto and scooter tyre segment recorded a more positive six percent gain, according to the Tyres Europe report.

Comments (0)

ADD COMMENT

Link Copied!

Hankook Tire & Technology reported a sharp rise in first-quarter operating profit, supported by stronger sales of electric vehicle tyres and replacement tyres across key markets including Europe, Korea and China.

The South Korean tyre maker said consolidated revenue for the three months to March reached USD 3.63 billion, up 7 percent from a year earlier, while operating profit rose 42.9 per cent to USD 345.9 million.

Sales in the group’s tyre business increased 9.3 percent year-on-year to USD 1.75 billion. Operating profit in the division rose 31.1 percent to USD 298.6 million, representing an operating margin of 17.1 percent.

The company said demand for original equipment tyres supplied to electric vehicle and hybrid models, alongside higher replacement tyre sales, supported performance despite continued uncertainty linked to tariffs and elevated oil prices.

Hankook Tire said tyres measuring 18 inches and above accounted for 49.1 percent of total passenger car and light truck tyre sales in the quarter, up 2 percentage points from a year earlier. Electric vehicle tyres represented 29.6 percent of original equipment passenger car and light truck tyre sales, an increase of 6.6 percentage points year-on-year.

The company expanded original equipment tyre supply during the quarter for both internal combustion engine and electric vehicle models produced by Mercedes-Benz, BMW and Ford.

Hankook Tire said it currently supplies original equipment tyres to about 50 automotive brands across roughly 300 vehicle models, including Porsche.

The company also continued to expand its iON electric vehicle tyre range, which now covers about 300 specifications from 16-inch to 22-inch tyres.

Its thermal management subsidiary Hanon Systems reported first-quarter sales of USD 1.88 billion, up 5 percent year-on-year, while operating profit rose more than fourfold to USD 66.3 million.

Hankook Tire said it continued to expand production capacity at its Tennessee plant in the US and its Hungary facility in Europe as part of efforts to strengthen global supply capabilities.

The company said it aims to raise the proportion of high-inch tyres to 51 percent and electric vehicle tyres to more than 33 percent of passenger car and light truck original equipment tyre sales.

Comments (0)

ADD COMMENT

Link Copied!