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.

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Yokohama Rubber reported record sales and profit for fiscal 2025, marking a fifth consecutive year of growth, as higher tyre volumes and a stronger product mix offset one-off costs linked to an acquisition.

Sales revenue rose 12.8 percent year on year to USD 8.2 billion. Business profit increased 24.0 percent to USD 1.11 billion, while operating profit advanced 28.3 percent to USD 1.02 billion. Profit attributable to owners of parent climbed 40.7 percent to USD 0.70 billion. The business profit margin reached a record 13.5 percent.

The company said the increase in consolidated business profit reflected strong performance in existing operations, which absorbed one-time costs related to the acquisition and consolidation of Goodyear’s OTR business. In tyres, profit rose on higher unit sales of consumer tyres and continued growth in high-value-added ADVAN, GEOLANDAR and winter tyres, alongside larger-diameter products. In the MB segment, cost reductions and structural reforms supported profitability.

For fiscal 2026, management targets sales revenue of USD 8.7 billion, business profit of USD 1.25 billion, operating profit of USD 1.15 billion and profit attributable to owners of parent of USD 0.60 billion, aiming for a sixth consecutive year of sales and profit growth.

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Hankook Tire played its role as the exclusive tyre supplier to the ABB FIA Formula E World Championship to perfection at the series’ recent visit to Saudi Arabia for a double-header event under the floodlights at the Jeddah Corniche Circuit. The company’s Hankook iON Race tyre was put to the test across two nights of intense racing, where driver precision and tyre durability were critical factors. In the first of the two rounds, Pascal Wehrlein of the Porsche Formula E Team claimed victory by combining consistent speed with clever positioning on the fast and challenging street circuit. The following evening, António Félix Da Costa of Jaguar TCS Racing took the win in a race that demanded careful attention to both energy consumption and tyre preservation until the very end.

The Jeddah circuit, measuring just over three kilometres and featuring 19 turns, is designed to complement Formula E’s unique braking and energy recovery systems. It offers a mix of long straights and demanding technical sections that place significant stress on tyres. Throughout both races, the Hankook iON Race tyre demonstrated its ability to maintain strong grip under heavy loads while managing heat effectively and supporting low rolling resistance. These characteristics are vital in a championship where tyre behaviour directly influences energy strategy and overall race outcomes.

In the days following the races, Formula E hosted its EVO Sessions 2 programme, inviting a group of international digital creators to experience the GEN3 Evo race car on the same circuit. The initiative, which first launched after last year’s Miami E-Prix, has generated substantial online engagement and provided additional visibility for Hankook’s tyre technology. Participants including Khaby Lame and Behzinga took part in driving sessions, while others assumed team principal roles for the event. The Hankook iON Race once again proved its capability by delivering strong traction and stability during these high-speed demonstrations.

Looking ahead, the championship will resume in Madrid on 21 March 2026 with a race at the Circuito de Madrid Jarama. This more compact and technically demanding permanent track will present a fresh challenge, with Hankook’s iON Race tyre continuing to serve as the foundation for competitive and sustainable racing.

Manfred Sandbichler, Senior Director, Hankook Motorsport, said, “Jeddah under the lights produced two demanding races with their own strategic patterns. Across both rounds, the iON Race demonstrated stable and consistent performance in conditions where track behaviour and tyre temperatures evolved through each session. Such tyre predictability is essential in helping teams execute their strategies on such a fast and technically complex circuit, and the data gathered here will feed directly into our ongoing iON development programme.”

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Two tyre service businesses with strong regional recognition in central Sweden and the Stockholm area, Västerås Däck and Arlandastad Däck, have been acquired by Citira, a Sweden-based company specialising in circular tyre management. These additions represent a significant step in Citira’s strategy to broaden its service network within the country.

Established in 2008 by Jalle Eriksson, Västerås Däck built a solid reputation for servicing both passenger cars and heavy vehicles, cultivating a dedicated customer base. This success led to the creation of Arlandastad Däck in 2020. The strategic placement of both facilities along the E4 and E18 corridors, combined with dedicated leadership and strong operational standards, positioned them for integration as vital service hubs within the expanding Citira network.

Daily operations at both locations will remain unchanged, with the existing staff continuing in their roles. The current management will stay on to run the businesses, now with access to Citira’s broader resources to foster future growth. As part of the agreement, Eriksson will transition into a co-ownership role within Citira, ensuring continuity and a shared vision for the businesses moving forward.

David Boman, CEO, Citira, said, “It is our privilege to welcome Jalle, Fredrik and Sofie to Citira, we look forward to working with them. The Eriksson family has made great achievements with both tyre shops and we are confident that adding these two service points will improve Citira’s service offering in both regions. We see great value in the experience that the Eriksson family brings and in the potential to operate these tyre shops alongside our current tyre shops in Västerås and Märsta.”

Eriksson said, “We are very impressed with what Citira has achieved so far. Their extensive network of tyre shops, broad service offering and industry experience will ensure that our service standards remain high going forward while enabling us to focus fully on serving our customers and exploring growth opportunities. We look forward to this partnership.”

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Dr Suttipong Angthong, Secretary-General of the Association of Natural Rubber Producing Countries (ANRPC), visited the Malaysian Rubber Glove Manufacturers Association (MARGMA) in Kuala Lumpur on 13 February 2026. The meeting brought together the ANRPC representative with MARGMA's Executive Director, Linda Tey and Dr Amir Hashim Md Yatim to discuss potential avenues for collaboration between their two organisations.

The dialogue was focused on strengthening ties across the natural rubber and glove value chain. Key topics included enhancing downstream value addition, promoting sustainable practices and navigating the challenges presented by evolving global market dynamics. The conversation underscored a shared interest in a closer partnership to build greater industry resilience.

Both parties expressed a firm commitment to working together to foster sustainable growth and to reinforce Malaysia's significant role within the global rubber ecosystem. The discussions highlighted a mutual dedication to forging a more integrated and competitive future for the natural rubber and products sector.

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