Hankook Tire has announced the establishment of a corporate governance charter to enhance transparent ESG management and to lay the groundwork for the company’s sustainable business. The company said in a statement that the charter was approved at the board meeting held on May 9. 

The corporate governance charter will ensure professionalism and independence of the board and promote the rights and interests of all stakeholders including shareholders, consumers, and members. It contains regulations on the rights and responsibilities of shareholders, roles and operations of the board, a structure of audit institutions, protection of rights of stakeholders, and disclosure. The content will be accessible to all shareholders on Hankook Tire’s official website as well as on Korea’s Financial Supervisory Service’s (FSS) Data Analysis, Retrieval and Transfer System (DART), the release said. 

Last July, the ESG committee was launched within the board of directors to strengthen the company’s ESG management strategies and activities. Currently, five operating units are affiliated within the board including the ESG committee, audit committee, outside director nomination committee, sustainable management committee, and internal transaction committee. 

The company said in an effort to enhance the expertise and function of the board, the committee has been set to consist of three or more directors, with a majority of its members from outside the board. In the case of the ESG committee, Mira Lee, a female leader with extensive experience in corporate governance practices from global companies such as General Electric (GE) and Macquarie Group, was selected as the first chairman. The committee, including the chairperson, is consisted of seven inside and outside directors. 

Sooil Lee, President and CEO of Hankook Tire & Technology, said, “Hankook Tire has met many milestones in fulfilling its responsibilities and roles as a top-tier ESG company, and is saving no efforts to reach sustainable growth in areas of economy, environment, and society. Following the enactment of the charter, Hankook Tire plans to establish sound governance with objectivity and transparency, and strengthen its ESG leadership.” 

Hankook has been improving its ESG capabilities by not only setting up the ESG committee but also by sharing its vision of sustainability and publishing its annual ESG Report since 2010, the release pointed out. Hankook earned the highest score in the auto components group in the Dow Jones Sustainability Indices (DJSI) World, and was included in the DJSI World for the past six years starting from 2016, it added. (TT)

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Goodyear is all geared up for the European Le Mans Series season finale, the 4 Hours of Portimão, supplying its Racing Eagle tyres across LMP2, LMP2 Pro/Am and LMGT3. The Autódromo Internacional do Algarve hosts the decisive round, with its dramatic elevation shifts and technical layout through the Algarve hills expected to produce moderate tyre wear over four hours.

In LMGT3, the Medium specification could enable single-stint strategies, letting competitors maximise pace throughout. For LMP2 and LMP2 Pro/Am, the same Medium compound is built to deliver the consistency needed for double-stint running.

With championships undecided in all three categories, tyre strategy will prove pivotal. LMGT3 leaders Iron Lynx hold just three points over TF Sport, while United Autosports lead Forestier Racing by Panis by 13 in LMP2. The LMP2 Pro/Am top four sit within six points, AF Corse setting the pace.

Portimão also closes the second season of Goodyear Racing's newest Eagle Medium LMP2 specification, now well understood after extensive European Le Mans Series use and two Le Mans outings. It marks the final LMGT3 run for the current Eagle before a more sustainable generation arrives in 2027. Goodyear Racing Eagle tyres additionally feature this weekend at Charlotte in NASCAR and Brands Hatch's British Touring Car Championship finale.

Stephen Bickley, Goodyear Endurance Program Manager, said, “Portimão is a fitting place to bring the European Le Mans Series season to a close. The undulating circuit combines dramatic elevation changes with high-speed corners and more twisty, technical sections, so we expect moderate levels of tyre wear and degradation. It looks like a hot and sunny race awaits us on Sunday, but should wet weather arrive, teams do have Goodyear Racing Eagle wet tyres available.

“It is significant that the LMGT3 field will use our current Goodyear Racing Eagle slick specification for the final time in the series this weekend. Next season, we will introduce a new generation of tyres with 66 percent sustainable-material content, continuing our focus on performance at the highest level of endurance racing.”

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Maxion İnci Wheel Group, a joint venture between Maxion Wheels and İnci Holding, has inaugurated Formare Türkiye alongside the Iochpe Foundation of Brazil, the İnci Foundation and Manisa Celal Bayar University. A ribbon-cutting ceremony marked the opening of the new Formare Learning Center in Manisa. Originally established by the Iochpe Foundation in Brazil over three decades ago, Formare is a professional qualification initiative that merges classroom instruction with practical industrial experience, aiming to improve the prospects of young people from disadvantaged backgrounds.

Türkiye becomes the first European nation to implement the programme and the fifth country overall, following Brazil, Mexico, India and Argentina. This launch is seen as a significant move towards boosting youth employability, social inclusion and hands-on learning in the country. It also underscores Maxion İnci Wheel Group's capacity to bridge industry, academia and society within the region.

The selection of Türkiye for this expansion was driven by its robust industrial sector, the presence of six manufacturing plants in Manisa, a well-developed vocational education system and the dedication of all partners to Formare's social mission. The initiative demonstrates the Iochpe and İnci Foundations' shared resolve to create opportunities for young people by reinforcing the link between education and employment. Formare Türkiye tailors the programme's established approach to local conditions, delivering benefits to students, businesses and the wider community.

The inaugural group consists of 16 students between the ages of 18 and 23, drawn from Manisa Vocational School of Technical Sciences and the Department of Machinery and Metal Technologies. Nine of these participants are young women, highlighting Formare's dedication to advancing female talent in technical disciplines. The one-year programme concludes with a participation certificate and combines technical instruction with socio-emotional development, preparing students for corporate expectations. The curriculum was created with Manisa Celal Bayar University and approved by the institution, while the Manisa Organized Industrial Park contributed insights into sectoral requirements. Educators include Maxion İnci Wheel Group staff, external trainers, İnci Foundation volunteers and university academics.

Pieter Klinkers, President and CEO, Iochpe-Maxion, said, “Formare Türkiye reflects our belief that business success must go hand in hand with creating opportunities for our youth and the communities where they live. By bringing together the experience of the Iochpe Foundation, the local strength of Maxion İnci Wheel Group and the academic contribution of Manisa Celal Bayar University, we are helping young people gain the skills and confidence they need for the future.”

Mustafa Zaim, Chairman of the Board of Maxion İnci and Maxion Jantaş, said, “Formare Türkiye is a meaningful example of how industry can contribute to the future by investing in youth. At Maxion İnci Wheel Group, we are proud to support a programme that gives young people the opportunity to gain practical experience, build professional confidence and take stronger steps into working life. We believe this collaboration will create lasting value for our students, our region and our country.”

Claudio Anjos, President, Iochpe Foundation, said, “For more than three decades, Formare has shown how education, practical experience and volunteer engagement can open new paths for young people. The launch in Türkiye brings this proven model into a new context, enriched by the partnership between Maxion İnci Wheel Group and Manisa Celal Bayar University. It is also an opportunity for us to share the experience built in Brazil while continuing to learn from each community where Formare grows.”

Ece Elbirlik Ürkmez, Energy Source, İnci Foundation, said, “As a foundation with 41 years of experience, we are committed to expanding opportunities for young people to become active and productive members of society through education. We believe that education is one of the most powerful tools for creating lasting social impact. Formare Türkiye is particularly meaningful to us as it gives young people the opportunity to discover their potential, gain hands-on experience and step into working life with greater confidence. We are proud to support this collaboration and contribute to a programme that creates value for young people, industry and society.”

Prof Dr Oktay Üçer, Acting Rector, Manisa Celal Bayar University, said, “As Manisa Celal Bayar University, we value Formare Türkiye as a strong step in bringing academic learning closer to the needs of industry. By combining classroom education with practical experience, the programme will help our students develop the skills and perspective required for their professional future. We are pleased to be part of this collaboration, which also strengthens university-industry cooperation in our region.”

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Tegeta Green Planet opened the Light Vehicle Diagnostics course at Tegeta Academy with a presentation for attendees aged 17 to 33. Beyond their chosen vocational field, participants learned about automotive waste management and environmental responsibility.

Shalva Akhvlediani, the organisation’s director, outlined its activities and goals while emphasising Extended Producer Responsibility. The session examined how the automotive sector connects to environmental duty and why used tyres, waste oils and automotive batteries must be collected and managed properly.

Tyre management and RECSOL featured prominently. Attendees traced a used tyre’s path from collection to recycling and learned how waste becomes a source of new resources. RECSOL, Tegeta’s tyre recycling plant, is a significant infrastructure project in used tyre recycling, processing tyres into materials for various uses and supporting circular economy principles.

A core aim is a system where waste is not an endpoint but the starting point for new resources, which requires infrastructure alongside greater public awareness and information on proper disposal. For participants, the meeting linked professional education with environmental awareness, stressing that future automotive professionals should understand this responsibility early.

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Tyres Europe, alongside ACEA (the European Automobile Manufacturers’ Association) and CLEPA (the European Association of Automotive Suppliers), has dispatched a joint communication to EU decision-makers concerning the possible broadening of the Carbon Border Adjustment Mechanism (CBAM) to cover downstream goods. The move comes as trilogue discussions approach.

Tyre producers form part of an automotive value chain already bearing carbon-related expenses for steel and aluminium manufactured within Europe. The proposed expansion would draw additional products into the mechanism’s remit before the existing framework has demonstrated its effectiveness. Resulting costs and administrative requirements would land on downstream manufacturers, tyre makers included, with signatories cautioning that a conceptually sound regulatory effort could become an operational and financial strain.

Endorsing the mechanism’s aims, the signatories nonetheless urge a proportionate scope that shields the entire value chain from carbon leakage while preventing that risk from being pushed further downstream. They advocate extending the mechanism only where a material carbon-leakage danger is evidenced, and request that policymakers ease compliance demands, including via more fitting default values mirroring real production routes.

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