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.

Apollo Tyres Ltd has secured a one-season shirt-sleeve sponsorship agreement with AS Monaco, one of French football's most successful clubs, to increase awareness for its premium Vredestein brand.

This partnership will leverage Ligue 1's ranking as the fifth most watched football league in the world to raise awareness of Vredestein's award-winning products among a large audience in France and abroad. On November 22, AS Monaco's home league game against Brest will have the new sleeve branding for the first time. The Vredestein brand will be heavily promoted at Stade Louis-II for the 2024–2025 season, including on player sleeves and LED screens around the field. Exclusive social media initiatives will further help make the brand prominent, reaching a large and interested audience.

Yves Pouliquen, Vice President – Commercial, Europe, Apollo Tyres, said, “This partnership is an exciting opportunity to strengthen Vredestein’s presence in one of our key markets. AS Monaco’s rich history and commitment to excellence mirror our focus on performance and innovation. We look forward to building a successful relationship with the club and celebrating its achievements this season.”

Thibaut Chatelard, Marketing and Revenue Director, AS Monaco, said: “We are delighted to welcome Apollo Tyres and its Vredestein brand to the family of AS Monaco partners. This collaboration makes sense in view of the values we share, such as the constant pursuit of performance and excellence. There’s no doubt that this new support will be precious for the rest of our season, which promises to be thrilling.”

Nexen Tire, a leading global tyre manufacturer, has launched the Nexen N´Blue S tyre, adding to its range of summer tyres and providing drivers with advanced safety, energy efficiency and superior driving stability in wet and dry conditions.

Developed using highly dispersed silica and equipped with an optimised structural design, the Nexen N´Blue S tyre provides reduced road noise and improved driving stability. The tyre features an innovative tread compound, formulated with hydrophilic fillers and microstructure-controlled polymers, and provides lower rolling resistance and exceptional dry and wet grip. The tyre also excelled in test results by demonstrating an 11 percent improvement in wet braking distance compared to its predecessor.

Apart from providing excellent performance, the Nexen  N´Blue S also scores high on the sustainability index. The tyre provides an eco-friendly solution for environmentally conscious drivers by minimising fuel consumption and CO2 emissions. The Nexen N´Blue S summer tyre is available in 58 sizes, which makes it compatible with different types of vehicles.

Kumho Tire Vietnam Co., Ltd. is all set to expand its investment project in Binh Duong province of Vietnam, with the phase 3 of expansion commencing in early 2025. This was discussed at a recent meeting between Vo Van Minh, Deputy Secretary of the Provincial Party Committee and Chairman of the Provincial People's Committee (PPC), and Kim Hyun Ho, General Director of Kumho Tire Vietnam Co., Ltd.

The meeting was held on 13 November at the Administrative Centre of Binh Duong province, as per an official statement. Apart from the company’s investment till date and the planned investment for phase 3, the two also discussed about the challenges and obstacles regarding procedures and processes to have more land funds to expand the manufacturing plant, along with taking measures to tackle the obstacles. Kim Hyun Ho also conveyed to the PPC Chairman that Kumho Tire Vietnam Co., Ltd. belongs to South Korea's Kumho Tire Group and is currently ranked 10th in the car tyre manufacturing industry.

The company had invested in a tyre manufacturing plant in My Phuoc 3 Industrial Park in 2007 with a total initial investment of USD 308 million, which was supplemented by another USD 300 million in 2021. This extended the factory scale to six hectares and increased the production capacity to 12.5 million tyres annually. With the expansion in early 2025, the company will raise its total investment to USD 908 million and increase the factory's production capacity to 17 million tyres annually. The expanded capacity is expected to be operational by early 2026.

Yokohama-ATG, a leading manufacturer of all-terrain and off-the-road tyres, has expanded its Galaxy MFS 101 SDS range of forklift tyres with the launch of white, non-marking tyres.

The Galaxy MFS 101 SDS range consists of puncture-proof SDS tyres with extended wear limits designed for high-intensity working shifts and long durability. These are premium, solid rubber tyres developed for tough demands, a long service life and high driving comfort. The addition of white, non-marking tyres is specifically aimed at clean working environments.

Marked by a 3-stage construction process, the forklift tyres feature reduced heat build-up, effective shock absorption and minimised vibrations. The pattern design guarantees a smooth ride and good steerability thanks to its continuous centre lug and circumferential grooves. Furthermore, the flat walls and wide flat profile offer excellent stability when using a forklift for vertical stacking. The tyres are also equipped with anti-slip steel beads for improved rim fitment

In a case study on a CAT 2.5-tonne forklift that was used for handling heavy pallets on asphalt, the Galaxy MFS 101 SDS outshone the competitors with impressive performance. The tyre delivered an approximate 900 working hours before replacement against competitors’ 500 working hours.