Hankook Tire Receives Korea's Ministry of Trade, Industry and Resources Commendation at the 2025 Outstanding Overseas Investment Contributors Awards

- Recognized as an outstanding company for overseas investment at the awards ceremony held on December 11 in Budapest, Hungary
- Acknowledged for sustained efforts in local market development, enhancing national competitiveness, and contributing to regional growth in Hungary
- Commended for serving as the central pillar of Korea's business community in Hungary by leading efforts to protect Korean companies' interests and support their initial market establishment

Seoul, Korea, December 12, 2025 — Global leading tire company Hankook Tire & Technology (hereafter Hankook Tire) has received a Ministerial Commendation at the 2025 Outstanding Overseas Investment Contributors Awards, hosted by Ministry of Trade, Industry and Resources of Korea, at the Korean Cultural Center in Budapest, Hungary.

The awards ceremony was organized to recognize and encourage Korean companies that have contributed to overseas market development and the enhancement of national competitiveness, while also promoting continued investment activities worldwide. This year, a total of seven companies—including Hankook Tire—received Ministerial Commendations in the corporate category. At the event, Ho Taek Lim, Managing Director of Hankook Tire Hungary Plant, shared the company’s key achievements and ongoing efforts with representatives from the Embassy of the Republic of Korea in Hungary, the KOTRA Budapest Trade Office, and approximately 50 Korean companies operating in Hungary.

Hankook Tire received high recognition across four key areas: contributing to national economic interests through sales, mutual growth with domestic partner companies, contributing to the local community in Hungary, and support for the Korean business community abroad. Hankook Tire’s Hungary plant, established in 2008 in Rácalmás, serves as the company’s sixth global manufacturing facility and has an annual production capacity of approximately 18 million tires. Based on its stable growth in both original equipment (OE) and replacement tire segments, the plant continues to generate profits that are consistently repatriated to Korea, contributing to the national economy.

Hankook Tire also supported overseas market expansion for Korean companies in the materials, components, and equipment sectors, while expanding strategic partnerships with European business. These efforts have strengthened the company's ability to respond swiftly to the rapidly evolving European market environment and significantly enhanced the global competitiveness of Korean enterprises.

Hankook Tire was also highly recognized for its contributions to the development of the local community in Hungary. Supported by the stable growth and operation of the Hungary plant, the company has expanded its local workforce to approximately 3,000 employees, which is nearly six times larger than the level recorded in 2007. Even during the COVID-19 pandemic's global economic downturn, Hankook Tire maintained employment levels, strengthening trust with the local community. Continuous improvements in wages and welfare systems have contributed to enhancing employees’ quality of life while stimulating the regional economy.

Hankook Tire continues to actively fulfill its corporate social responsibility through an extensive community outreach initiatives throughout Hungary. Since 2012, the company has donated more than 28,000 tires to national institutions and approximately 2,800 private organizations to support safer and more efficient operations. The company has also implemented various projects to improve local infrastructure, support underprivileged groups, and provide youth scholarships, further strengthening its long-standing ties with the local community.

Beyond these efforts, Hankook Tire has also contributed to strengthening the foundation for mutual growth between Korean companies and the local community in Hungary by serving as a central pillar of the Korean business community. The company currently serves as the chair of both the Hungarian Association of Korean Companies and the Hungarian Chamber of Commerce and Industry, actively participating in discussions and cooperation to address practical operational challenges faced by Korean companies entering the market. Through these activities, Hankook Tire continues to support the stable market entry and sustainable operation of Korean businesses in Hungary.

“As a representative company with deep roots in Hungary, Hankook Tire is committed to fostering unity within the Korean community and supporting the successful establishment of Korean companies entering the market,” said Ho Taek Lim, Managing Director of Hankook Tire Hungary plant. “Through close collaboration with local institutions, we will continue enhancing the competitiveness of Korean companies in Europe while advancing Korea’s national interests.”

Hankook Tire will continue building a sustainable business ecosystem under its “shared growth through global partnerships” vision, while leading efforts to strengthen the development and standing of the Korean community in Hungary.