How a South Korean tire maker became a global titan of professional sports

Cultures · Published 10 October 2026 Swipe more like this →

In short: Hankook Tire & Technology is the seventh-largest tire company in the world, producing roughly 102 million tires annually. Beyond its industrial footprint, the company has built a massive marketing engine by embedding itself into the fabric of global sports, from Formula E racing to Major League Baseball.

Founded in 1941 as the Chosun Tire Company, the firm rebranded to Hankook Tire Manufacturing in 1968. Both names translate to Korea, reflecting its origins in Seoul. Today, the company operates as part of Hankook & Company, maintaining a vast network of technical centers and manufacturing facilities across South Korea, China, Hungary, Indonesia, and the United States.

The company's strategy for global expansion has been aggressive. In 2011, it committed $1.1 billion to a factory in West Java, Indonesia, aiming to climb the ranks of global manufacturers. This was followed by the opening of a major facility in Clarksville, Tennessee, in 2017, and the relocation of its North American headquarters to Nashville. These moves underscore a transition from a regional player to a multinational powerhouse supplying original equipment to major automakers.

Hankook’s visibility is heavily tied to its extensive sponsorship portfolio. It has been a fixture in motorsports, supplying tires for the Le Mans Series, DTM, and Formula E, while also sponsoring high-profile football clubs like Real Madrid and Borussia Dortmund. Its reach extends into niche and digital spaces, including sim racing leagues and diecast racing, demonstrating a versatile approach to brand positioning that spans from traditional stadium sports to modern digital entertainment.

However, the company’s path has not been without disruption. In 2023, a severe fire at its Daejeon plant forced the company to withdraw from its supply contract for the Super Taikyu championship in Japan. Despite such setbacks, the firm continues to secure major partnerships, such as its upcoming three-year contract to supply the World Rally Championship starting in 2025, signaling its ongoing commitment to maintaining a dominant presence in the global automotive and sports landscape.

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