Hankook & Company announces key executive appointments for 2022

- Key appointment includes Hyunbum Cho as new Chairman of Hankook & Company (the Group), succeeding Yangrae Cho who is named Honorary Chairman
- Executive-level appointments at Hankook Tire include 3 Executive Vice Presidents, 3 Senior Vice Presidents, and 14 Vice Presidents
- Hankook’s promotions reflect company’s commitment to accelerating growth and innovation

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Seoul, Korea, December 23, 2021 – Hankook & Company, the holding company of Hankook Tire & Technology, announced a series of appointments reflecting the Group’s commitment to accelerating growth and innovation in line with the fast-changing business environment. The new positions will be effective starting January 1, 2022.

The announcement is headlined by the appointment of current CEO, Hyunbum Cho as Chairman of Hankook & Company. Current Chairman Yangrae Cho, who led Hankook Tire to become the sixth largest tire company in the world and elevated the brand’s status as a leading global tire company, will serve as the Honorary Chairman of the Group.

Chairman Hyunbum Cho first joined Hankook Tire in 1998, subsequently becoming the head of Marketing Division and Business Strategy Division. As CEO of Hankook Tire, Cho was instrumental in driving the company’s growth in the global market and raising the premium image of the Hankook Tire brand. He led the way in securing large-scale investments in China, Hungary, and the US, expanding the company’s portfolio of production capabilities to eight sites around the world. As a result, Hankook Tire recorded aggregate sales of 6.45 trillion won in 2020 and claimed the sixth spot on the list of largest tire brands in the world in the midst of a volatile economy brought on by COVID-19.

Under Hyunbum Cho’s leadership, Hankook Tire blossomed into an open, horizontal organization. He created an autonomous working environment fostering creativity and innovation, and strengthened the company’s commitment to ESG by directly handling all related initiatives. He has also particularly shown his keen foresight for new growth engines and business opportunities, as more recently was demonstrated through the acquirement of a 57% stake in Preciseley Microtechnology Corporation, a Canadian micro-mechanical (MEMS) company in November. Cho’s expanded role as Chairman of Hankook & Company allows him to continue strengthening core business competitiveness and lead the Group to the future.

Hankook Tire in parallel announced the appointment of three Executive Vice Presidents, three Senior Vice Presidents, and fourteen Vice Presidents for 2022 who will be asked to continue leading the company through challenges headlined by the ongoing pandemic and a volatile global economy.

Bonhee Ku is promoted to Executive Vice President, reflecting his contributions in leading the technological innovation at Hankook Tire including the development next generation EV and UHP tires. Sanghoon Lee, who currently leads the Europe Headquarters, also becomes Executive Vice President after recording a dramatic growth in UHP tire segment for Hankook Tire in the European region, which is also the largest market for the company.

■ Hyunbum Cho, Chairman, Hankook & Company

[Senior Vice President]
► Born in 1972
► Bachelor of Business Administration at Boston College
► Key Experiences
○ 2022 Chairman and CEO, Hankook & Company
○ 2022 Chairman, Hankook Tire & Technology
○ 2021 CEO of Hankook & Company and Hankook Tire & Technology
○ 2018 CEO of Hankook Tire and Hankook Tire Worldwide
○ 2013 COO of Marketing Staff Office & Corporate Management Staff Office, President of Hankook Tire<
○ 2012 COO of Corporate Management Staff Office, President of Hankook Tire
○ 2006 COO of Corporate Strategy Planning Staff Office, Vice President, Hankook Tire (2006)
○ 2011 Team Manager, Advertising & PR Team, Hankook Tire

■ Promotions (effective January 1, 2022) at Hankook Tire & Technology
[Executive Vice President]

► Bonhee Ku, Chief Technology Officer
► Born in 1964
► 2021 Senior Vice President & Manager of R&D Innovation
2020 Senior Vice President & Manager of Research & Quality
2016 Senior Vice President & Quality Division Director

[President of Hankook Tire Europe Headquarters]

► Sanghoon Lee
► Born in 1966
► 2020 Senior Vice President & Chief Operating Officer of Europe Headquarters
2017 Senior Vice President & Sales Department Director at Hankook Tire China Headquarters
2014 PC/LT Sales Department Director at Hankook Tire China Headquarters

[Seongho Jeong, Chief Operating Officer of Safe Production & Engineering Staff Office]

► Born in 1961
► 2021 Senior Vice President & Chief Operating Officer of Safe Production & Engineering Staff Office
2015 Vice President & Plant Managing Director of Chongqing Plant at Hankook Tire China Headquarters
2011 Vice President & CEO of Hankook Engineering Works
2009 Vice President & Plant Managing Director of Geumsan Plant

[Senior Vice President]

► Hyungyun Kim, Plant Managing Director of Hungary Plant (MP) at Hankook Tire Europe Headquarters
► Moonwha Hong, OE Development Department, CTO
► Curtis Brison, President of Hankook Tire North America Headquarters (formerly Hankook Tire America)

[Vice President A]

► Jongbaek Kim, Commercial Marketing Department, CMO
► Dongwook Kim, Design Innovation Department, CMO
► Seongho Kim, Advanced Research Department, CTO
► Heonjoon Kim, KAM Korea, Global OE Innovation Headquarters

[Vice President B]

► Jungtae Kim, CTC Department, CTO
► Janghyuk Moon, Global Marketing Strategy Team, Chief Marketing Office
► Jongjin Park, Marketing Department, Hankook Tire North America Headquarters
► Byoungwon Ahn, Production Machinery Team, Safe Production & Engineering Division
► Hyungmin Yoo, Corporate Strategy & Innovation Department
► Seunghyung Lee, HR Team 1, HR Department, Corporate Management Staff Office,
► Wonhyuck Lee, Virtual Technology Project, Advanced Research Department
► Sungkook Cho, Geumsan Plant Manufacturing Department, Safe Production & Engineering Staff Office
► Changyool Han, Managing Director, United Kingdom Sales Subsidiary, Europe Headquarters
► Munhwan Heo, G.Project, Corporate Administrative Department