April 25, 2024

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[THE INVESTOR] Hankook Tire Manufacturing said on Aug. 23 it has inked a deal with Mercedes-Benz Korea to supply tires to high-performance cars in a racetrack operated by the German carmaker near Seoul.

Hankook Tire said the Ventus R-S4 and five other ultra-high performance tires will be equipped on all vehicles in the AMG Speedway run by Mercedes-Benz in Yongin, some 50 kilometers south of Seoul.

The carmaker said the AMG Speedway will be used for the launch of new models, various experience-based events for AMG and Mercedes-Benz owners; and the AMG Driving Academy open to the general public.

Mercedes-Benz rented the racetrack from the Samsung Group affiliate Samsung C&T to promote the sale of its AMG models in Korea.

In 2017, 3,206 AMG vehicles were sold in Korea, a 56 percent on-year jump from a year earlier, according to Mercedes-Benz Korea.

To enhance its global brand image, Hankook Tire has shipped products to nearly 50 foreign carmakers, including Audi, BMW, Mercedes-Benz and Porsche. 

Last year, Hankook Tire sold 99 million tires produced at its eight plants -- two in Korea, three in China, one in Hungary, one in Indonesia and one in the United States.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)