Recently, Hankook Tire , one of the world's 7th largest and fastest-growing tire manufacturers, announced its 3Q12 results report - global sales continued to grow, reaching 1.79 trillion won (approximately 1.575 billion USD), an increase of 5.8% from the same period last year. At the same time, operating profit in the third quarter increased by 21.7% year-on-year to 219.6 billion won (about 194 million U.S. dollars).

The third-quarter results were in line with expectations, coupled with the optimism of the fourth-quarter results, Hankook Tire is steadily moving towards the performance targets set in early 2012.

Despite the continued weakness in the global economy caused by the financial crisis in the Eurozone, the surge in demand for Hankook Tire UHP (Ultra High Performance) tires continued to maintain its strong growth momentum in the third quarter. Hankook Tire's UHP sales accounted for 25.4% of the total in the third quarter, a year-on-year increase of 28.7%. UHP tires in North America and China performed particularly well, with sales up by a significant 68.9% and 50% year-on-year, respectively, and Europe’s year-on-year increase of 10.9%.

With the continuous growth of the demand for Hankook UHP tires, the newly signed UHP tire matching agreement in North America and China has promoted further growth in its global performance. Just recently, Hankook Tire has just announced the use of original tires for high-end luxury cars such as Ford Lincoln and Chrysler Dodge. Through the exclusive sponsorship of participating in the world's top events such as the DTM (German Caravan Masters), the excellent quality and high performance demonstrated by Hankook Tire has gradually become a recognized tire brand in the OE high-end supporting field.

In addition, the successful expansion of Hankook Tire's European Hungarian factory production facilities has also become another driving force for its growth. At the same time, the expansion of sales and distribution channels in emerging markets such as Russia and the Commonwealth of Independent States has also drastically increased its performance.

“The continued growth in global performance was mainly attributable to the continuous growth in demand for Hankook UHP tires and the strategic expansion of major emerging markets, despite the continued sluggish global economic consumption and the financial crisis in the Eurozone.” Hankook Tire Vice President and Chief Executive Officer Mr. Xu Chenghe said, “Hankook Tire will continue to increase its investment in the core strategic market and provide the world's consumers with the highest quality products and services with the most advanced R&D level.”

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