Hankook & Company pursues transparent disclosure of corporate investments.
“We aim to focus on creating value by strengthening
new growth engines and enhancing the competitiveness
of our core businesses based on our future growth
portfolio, S.T.R.E.A.M."
Chairman & CEO, Hankook & Company
Division | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|
Net Sales | 10,897 | 10,959 | 9,633 | 8,192 |
Gross Profit | 3,587 | 3,422 | 3,272 | 2,415 |
Operating Profit | 2,566 | 2,452 | 2,283 | 1,578 |
Income Before Taxes | 2,056 | 2,473 | 2,277 | 1,719 |
Net Profit | 1,872 | 1,660 | 2,000 | 1,796 |
Sales Growth | -0.57% | 13.77% | 17.59% | -3.27% |
OP Growth | 4.61% | 7.40% | 44.72% | -8.00% |
(Billion KRW)
Division | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|
GP Margin | 32.92% | 31.23% | 34.00% | 29.50% |
OP Margin | 23.55% | 22.37% | 23.70% | 19.30% |
Ordinary Margin | 18.87% | 22.57% | 23.64% | 21.00% |
NP Margin | 17.18% | 15.15% | 20.80% | 21.90% |
Division | 2023 | 2022 | 2021 | 2020 |
---|---|---|---|---|
Liabilities | 6,243 | 4,454 | 3,458 | 2,920 |
Debt Ratio | 15.54% | 11.50% | 9.26% | 8.34% |
Current Assets | 7,191 | 5,314 | 6,303 | 5,989 |
Current Ratio | 155.67% | 186.26% | 260.44% | 295.15% |
Current Liabilities | 4,619 | 2,853 | 2,420 | 2,029 |
Assets | 46,410 | 43,018 | 40,812 | 37,925 |
Equity | 40,167 | 38,564 | 37,355 | 35,005 |
Net Worth to Assets | 86.55% | 89.65% | 91.53% | 92.30% |
(Billion KRW)
Future Business portfolio
'S.T.R.E.A.M'
Ev High Tech Exclusive
Product
The Technical Partner of Formula E
Hankook & Company Group offers only the best products and services that cater to
specific local needs throughout its global network that encompasses manufacturing, R&D,
sales, and marketing & communications. Hankook & Company Group will ceaselessly push
the boundary of its capabilities to reach out to the wider world and to bring the greatest
possible satisfaction right to the point of customer satisfaction.
2020 HANKOOK&COMPANY_Separate Financial Statements
2020 HANKOOK&COMPANY_Consolidated Financial Statements
2019 HankookTireWorldwide_Seperate Financial Statement
2019 HankookTireWorldwide_Consolidated Financial Statement
2018 HankookTireWorldwide_Seperate Financial Statement
2018 HankookTireWorldwide_Consolidated Financial Statement
"In order to prepare for the future, we will place top
priority on realizing technological innovation based on
enhanced R&D capabilities and delivering results,
including expanding
the supply of EV tires."
President & CEO Hankook Tire & Technology
Division | 2023 | 2022 | 2021 |
---|---|---|---|
Net Sales | 89,396 | 83,942 | 71,411 |
Gross Profit | 28,960 | 21,025 | 19,473 |
Operating Profit | 13,279 | 7,058 | 6,422 |
Ordinary income | 11,712 | 8,584 | 7,129 |
Net Profit | 7,288 | 7,058 | 5,947 |
Sales revenue growth rate | 6.5% | 17.5% | 10.7% |
Operating Profit growth rate | 88.1% | 9.9% | 2.2% |
(Unit: 101 million won)
Division | 2023 | 2022 | 2021 |
---|---|---|---|
Gross profit margin | 32.4% | 25.0% | 27.3% |
Operating margin | 14.9% | 8.4% | 9.0% |
Ordinary income Margin | 13.1% | 10.2% | 10.0% |
Net profit margin | 8.2% | 8.4% | 8.3% |
Division | 2023 | 2022 | 2021 |
---|---|---|---|
Liabilities | 31,338 | 37,057 | 34,988 |
Debt Ratio | 32.5% | 41.8% | 42.7% |
Current Assets | 67,681 | 64,363 | 55,092 |
Current Assets Ratio | 296.3% | 222.9% | 294.7% |
Current Liabilities | 22,844 | 28,871 | 18,692 |
Assets | 127,633 | 125,814 | 116,943 |
Total Shareholders' Equity | 96,296 | 88,757 | 81,955 |
Capital adequacy ratio | 75.4% | 70.5% | 70.1% |
(Unit: 101 million won)
Future Business portfolio
'S.T.R.E.A.M'
Ev High Tech Exclusive
Product
The Technical Partner of Formula E
Hankook & Company Group offers only the best products and services that cater to
specific local needs throughout its global network that encompasses manufacturing, R&D,
sales, and marketing & communications. Hankook & Company Group will ceaselessly push
the boundary of its capabilities to reach out to the wider world and to bring the greatest
possible satisfaction right to the point of customer satisfaction.
HankookTire&Technology_Consolidated Financial Statement
HankookTire&Technology_Consolidated Financial Statement
HankookTire&Technology_Consolidated Financial Statement
HankookTire&Technology_Consolidated Audit Report
HankookTire_Consolidated Financial Statement
HankookTire_Consolidated Financial Statement
Division | 2017 | 2018 | 2019 |
---|---|---|---|
Net Sales | 6,299 | 6,524 | 6,480 |
Gross Profit | 1,055 | 1,057 | 1,125 |
Operating Profit | 609 | 643 | 646 |
Income Before Taxes | 570 | 658 | 677 |
Net Profit | 425 | 500 | 531 |
Sales Growth | 13.53% | 3.56% | -0.67% |
OP Growth | -5.25% | 5.55% | 0.47% |
(Billion KRW)
Division | 2017 | 2018 | 2019 |
---|---|---|---|
GP Margin | 16.75% | 16.20% | 17% |
OP Margin | 9.66% | 9.85% | 9.97% |
Ordinary Margin | 9.04% | 10.08% | 10.45% |
NP Margin | 6.75% | 7.66% | 8.19% |
Division | 2017 | 2018 | 2019 |
---|---|---|---|
Liabilities | 1,404 | 1,728 | 1,132 |
Debt Ratio | 53.36% | 55.05% | 30.80% |
Current Assets | 2,874 | 3,668 | 2,807 |
Current Ratio | 209.00% | 217.55% | 268% |
Current Liabilities | 1,375 | 1,686 | 1,049 |
Assets | 4,035 | 4,866 | 4,803 |
Equity | 2,631 | 3,138 | 3,671 |
Net Worth to Assets | 65.20% | 64.50% | 76% |
(Billion KRW)
※ Address: 286, Pangyo-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, 13494 Korea
E-mail : b2220702@hankookn.com
※ At the time of determining the fulfillment of equity requirements, the day before a shareholder proposal was submitted (in writing or by electronic documents) shall be the starting point of reckoning the six(6)-month retention period - Document to be submitted : Certificate of actual shareholders issued by the Korea Securities Depository, Statement of transaction details (Proof of retention required)
※ Note: Criteria for Rejection of Shareholder Proposals (Article 12 of the Enforcement Decree of the Commercial Act)
[The 68th Ordinary General Meeting of Shareholders]
'March 30, 2022
Proposal | Resolution classification | Meeting purpose | Approval status | Total number of outstanding shares with voting rights | Number of shares whose voting rights are exercised | Number of shares
in favor (ratio %) |
|
---|---|---|---|---|---|---|---|
Number of shares that opposed/abstained (ratio %) |
|||||||
Agenda No. 1 | Ordinary resolution |
Approval of the 68th financial statements (including the statement of appropriation of retained earnings) and consolidated financial statements |
Passed | 94,934,050 | 63,858,792 | 61,938,881 (96.99%) |
|
1,919,911 (3.01%) |
|||||||
Agenda No. 2 | Ordinary resolution |
Appointment of directors (Inside directors 2 persons , Outside director 1 person Nonexecutive director 1 person) |
No.2-1. Appointment of inside director Hyun-bum Cho | Passed | 94,934,050 | 63,858,792 | 45,092,621 (70.61%) |
45,092,621 (70.61%) |
|||||||
No.2-2. Appointment of inside director Jong-sun Ahn | Passed | 94,934,050 | 63,858,792 | 18,766,171 (29.39%) |
|||
45,092,621 (70.61%) |
|||||||
No.2-3. Appointment of nonexecutive director Jong-ho Park | Passed | 94,934,050 | 63,858,792 | 59,049,850 (92.47%) |
|||
4,808,942 (7.53%) |
|||||||
No.2-3. Appointment of outside director Jae-wan Park | Passed | 94,934,050 | 63,858,792 | 49,549,803 (77.59%) |
|||
14,308,989 (22.41%) |
|||||||
Agenda No. 3 | Ordinary resolution | Appointment of Audit Committee member Jae-wan Park | Passed | 33,617,843 | 17,669,434 | 10,717,513 (60.66%) |
|
6,951,921 (39.34%) |
|||||||
Agenda No. 4 | Ordinary resolution | Approval of the director's remuneration | Passed | 94,934,050 | 63,858,792 | 63,680,905 (99.72%) |
|
177,887 (0.28%) |
[The 67th Ordinary General Meeting of Shareholders]
'March 30, 2021
Proposal | Resolution classification | Meeting purpose | Approval status | Total number of outstanding shares with voting rights | Number of shares whose voting rights are exercised | Number of shares
in favor (ratio %) |
|
---|---|---|---|---|---|---|---|
Number of shares that opposed/abstained (ratio %) |
|||||||
Agenda No. 1 | Ordinary resolution | Approval of the 67th financial statements (including the statement of appropriation of retained earnings) and consolidated financial statements |
Passed | 91,695,083 | 81,012,659 | 80,806,242 (99.75%) |
|
206,417 (0.25%) |
|||||||
Agenda No. 2 | Special resolution | A partial amendment to the Articles of Association | Passed | 91,695,083 | 81,012,659 | 80,891,720 (99.85%) |
|
120,939 (0.15%) |
|||||||
Agenda No. 3 | Ordinary resolution | Appointment of directors (Inside directors 1 person , Outside directors 2 persons) |
No.3-1. Appointment of inside director Jong-pal Won | Passed | 91,695,083 | 81,012,659 | 79,499,578 (98.13%) |
1,513,081 (1.87%) |
|||||||
No.3-2. Appointment of outside director Byung-jun Jeon | Passed | 91,695,083 | 81,012,659 | 75,323,948 (92.98%) |
|||
5,688,711 (7.02%) |
|||||||
No.3-3. Appointment of outside director Han-kyu Kim | Passed | 91,695,083 | 81,012,659 | 75,391,278 (93.06%) |
|||
5,621,381 (6.94%) |
|||||||
Agenda No. 4 | Ordinary resolution | Appointment of Audit Committee members (2 persons) |
No.4-1. Appointment of Audit Committee member Byung-jun Jeon | Passed | 30,225,013 | 19,572,589 | 79,499,578 (98.13%) |
1,513,081 (1.87%) |
|||||||
No.4-2. Appointment of Audit Committee member Han-kyu Kim | Passed | 30,225,013 | 19,572,589 | 75,323,948 (92.98%) |
|||
5,688,711 (7.02%) |
|||||||
Agenda No. 5 | Ordinary resolution |
Determination of the separate election voting method of outside directors (Outside director to become a member of the audit committee) (Appointment of multiple voters by collective ballot) |
Passed | 91,695,083 | 81,012,659 | 80,882,185 (99.84%) |
|
130,474 (0.16%) |
|||||||
Agenda No. 6 | Ordinary resolution |
Appointment of an outside director to become a member of the Audit Committee (1 person) |
No.6-1. Appointment of outside director Hye-kyung Kim to become a member of the Audit Committee | Rejected | 30,225,013 | 19,572,589 | 5,560,637 (28.41%) |
14,011,952 (71.59%) |
|||||||
No.6-2. Appointment of outside director Han-sang Lee to become a member of the Audit Committee |
Passed | 30,225,013 | 19,572,589 | 11,610,100 (59.32%) |
|||
7,962,489 (40.68%) |
|||||||
Agenda No. 7 | Ordinary resolution |
Approval of the director's remuneration | Passed | 91,695,083 | 81,012,659 | 75,295,444 (92.94%) |
|
5,717,215 (7.06%) |
[The 67th Extra-Ordinary General Meeting of Shareholders]
'December 29, 2020
Proposal | Resolution classification | Meeting purpose | Approval status | Total number of outstanding shares with voting rights | Number of shares whose voting rights are exercised | Number of shares
in favor (ratio %) |
|
---|---|---|---|---|---|---|---|
Number of shares that opposed/abstained (ratio %) |
|||||||
Agenda No. 1 | Special resolution |
A partial amendment to the Articles of Association | Passed | 91,695,083 | 78,272,301 | 68,137,731 (87.05%) |
|
10,134,570 (12.95%) |
[The 66th Ordinary General Meeting of Shareholders]
'March 27, 2020
Proposal | Resolution classification |
Meeting purpose | Approval status |
Total number of outstanding shares with voting rights |
Number of shares whose voting rights are exercised |
Number of shares
in favor (ratio %) |
|
---|---|---|---|---|---|---|---|
Number of shares that opposed/abstained (ratio %) |
|||||||
Agenda No. 1 |
Ordinary resolution |
Approval of the 66th financial statements (including the statement of appropriation of retained earnings) and consolidated financial statements |
Passed | 91,695,083 | 85,903,378 | 84,968,845 (98.90%) |
|
934,533 (1.10%) |
|||||||
Agenda No. 2 |
Special resolution |
A partial amendment to the Articles of Association | Passed | 91,695,083 | 85,903,378 | 85,902,404 (100.00%) |
|
974 (0.00%) |
|||||||
Agenda No. 3 |
Ordinary resolution |
Approval of the director's remuneration | Passed | 91,695,083 | 85,903,378 | 78,676,309 (91.60%) |
|
7,227,069 (8.40%) |
Dear valued shareholders,
I would like to express my sincere gratitude to you for your unwavering support for Hankook & Company in the midst of challenging conditions. Our Group, including operating holding company Hankook & Company, is exerting varied efforts to grow even in a rapidly changing business environment, and in 2022, we achieved meaningful results in a number of areas.
First, the Energy Solution Business Headquarters, Hankook & Company's business division, established a new subsidiary in Europe and reinforced its global sales network to acquire new customers in North America and Latin America. In addition, we achieved stable sales of lead-acid batteries with over 37 percent year-on-year growth, recording KRW 829.3 billion in sales through strategic moves such as effective price management in key global markets.
As for the ESG sector, we were recognized for our contributions with the Happiness Award in the donation category at the Annual Community Chest Korea (CCK) Grand Prize. Since 2003, we have been carrying out society outreach programs with local communities in partnership with the CCK, donating approximately KRW 13.6 billion to underprivileged neighbors until last year. As we look ahead to 2023, we plan to accelerate our global growth by increasing sales of AGM batteries, our premium product, and stabilizing our Tennessee plant in the US to enhance our core business competitiveness. We will also renew our efforts to expand into new business areas to deliver smart energy solutions in line with recent market changes. Hankook Tire, as the core business subsidiary of
the Group, recorded KRW 8,394.2 billion in sales last year, setting a new record for the highest sales since its founding.
The year has also seen us take another leap forward as a first mover in the EV tire market with our new role as the exclusive racing tire supplier and official partner of the ABB FIA Formula E World Championship, the world's premier EV racing competition. Additionally, Model Solution, a non-tire affiliate of the Group, has achieved the milestone of listing on the KOSDAQ for the first time in the domestic prototype industry. Taking this KOSDAQ listing as an opportunity, we will make every effort to build future growth engines to reinvent ourselves as an innovative leader in the manufacturing sector. This achievement was made possible because of our agile crisis management, proactive future planning, and the confidence of our clients, partners, communities, employees, and shareholders in Hankook & Company. I would like to take this opportunity to once again express my deepest gratitude.
Shareholders,
There is no doubt that the business environment of the next ten years, including the automotive industry, will be unfolding in an unimaginably different way from what we have seen in the past. To prepare for the future, it is time for the Group to embark on a new chapter of robust growth by continuously strengthening our R&D capabilities and capitalizing on our global network and M&A capabilities to explore inorganic growth opportunities in various business areas, including mobility.
To this end, we aim to focus on creating value by strengthening new growth engines and enhancing the competitiveness of our core businesses based on our future growth portfolio, S.T.R.E.A.M. We will also continue to expand our customer engagement centered on our flagship brand, Hankook.
We will move forward into a promising future of change and innovation together with our customers and shareholders, who have shown their unwavering trust and support for Hankook & Company. We look forward to your continued interest and encouragement this year. Thank you.
Chairman & CEO, Hankook & Company
Dear Shareholders,
I would like to extend my heartfelt gratitude to you for the continued support for the sustained growth of Hankook Tire & Technology.
In 2022, despite a challenging and tough business climate, including rising raw material prices, global logistics disruptions, and an economic slowdown, Hankook Tire achieved KRW 8,394.2 billion in sales, the largest in its history, thanks to optimized sales strategies for each region, including expanding the proportion of high-value-added products and raising sales prices. At the same time, our share of 18-inch and larger passenger tire sales, one of the indicators of a premium brand, exceeded 40% on an annualized basis for the first time, reflecting our continued qualitative growth.
Last year, we made several significant achievements as a first mover in the global EV tire market. First of all, we strengthened our OE tire supply and strategic partnerships for new EV models from global manufacturers such as BMW, Audi, Toyota and Skoda, as well as Hyundai's IONIQ 6 in Korea.
In addition, we launched the world's first full lineup EV tire brand, iON, in Europe, Korea, and North America, shaking up the EV RE tire market. We also took another step in our pursuit of technological innovation with the opening of Asia's largest tire test track, Hankook Technoring, which represents yet another crucial momentum to drive the future era of mobility.
In terms of ESG management, we have been listed on The Dow Jones Sustainability Indices (DJSI) World for the seventh consecutive year, an indicator given only to the top ten percent of the world's 2,500
largest companies by market capitalization for their environmental, social, and governance (ESG) performance. Among Korean companies, 24 companies were included, and only two companies in the auto parts industry – us and Hyundai Mobis – were ranked, a distinguished record and the fruit of our steady efforts to improve ESG management.
We owe this achievement to our customers, partners, employees, communities, and shareholders who supported us with their trust in Hankook Tire, along with our prompt crisis response and proactive future planning. Once again, I would like to express my sincere gratitude.
We expect the business environment in 2023 to be challenging both at home and abroad. While many challenges remain ahead of us, including the global economic downturn with high interest rates and inflation, as well as geopolitical issues, Hankook Tire will concentrate all its efforts on sustaining growth, with the goal of growing sales by more than five percent year-on-year, raising the proportion of 18- inch and larger passenger car tires to 45 percent, and increasing the proportion of EV models to 20 percent of the total OE tire supply for passenger and light truck vehicles. In parallel, we will take another leap forward as a first mover in the global EV tire market by expanding our activities as the exclusive racing tire supplier and official partner of the ABB FIA Formula E World Championship, the world's premier electric vehicle racing competition.
Shareholders,
Hankook Tire strives to enhance shareholder value by solidifying its core business competitiveness and taking the initiative in leading the future business areas. As we all know, the concepts of vehicle electrification and connected cars have become all too familiar now, while autonomous driving and mobility as a service are also becoming commonplace at a rapid pace. In order to prepare for the future, we will place top priority on realizing technological innovation based on enhanced R&D capabilities and delivering results, including expanding the supply of EV tires. Additionally, we will also maintain open innovation research activities such as virtual tire technology, sensor tires, airless tires, and the development of sustainable raw materials and products to sharpen our competitiveness in future products. We will actively embrace digital transition and continue to lead innovation internally and externally, including analyzing market information and adopting innovative technologies.
Lastly, I promise that we will endeavor to ensure that the future value of the company is consistently reflected in our business performance with an independent board of directors playing a key role, thus giving top priority to the interests of our stakeholders. We ask for your continued interest in, and support for, Hankook Tire, and wish you and your family good health and happiness. Thank you.
President & CEO Hankook Tire & Technology
회사채의 신용등급은 원리급 지급 능력의 정도에 따라 AAA부터 D까지 10개 등급으로 분류됩니다.
등급 중 AAA부터 BBB까지는 원리금 상환능력이 인정되는 투자등급이며, BB에서 C까지는 환경변화에 따라 크게 영향을 받는 투기등급으로 분류됩니다.
AAA | 원리금 지급능력이 최상급임 |
---|---|
AA | 원리금 지급능력이 매우 우수하지만 AAA의 채권보다는 다소 열위임 |
A | 원리금 지급능력은 우수하지만 상위등급보다 경제여건 및 환경악화에 따른 영향을 받기 쉬운 면이 있음 |
BBB | 원리금 지급능력은 양호하지만 상위등급에 비해서 경제여건 및 환경악화에 따라 장래 원리금의 지급능력이 저하될 가능성을 내포하고 있음 |
BB | 원리금 지급능력이 결핍되며 불황시에 이자지급이 확실하지 않음 |
CCC | 원리금 지급에 관하여 현재에도 불안요소가 있으며 채무불이행의 위험이 커 매우 투기적임 |
CC | 상위등급에 비하여 불안요소가 더욱 큼 |
C | 채무불이행의 위험성이 높고 원리금 상환능력이 없음 |
D | 상환불능 상태임 |
내용 | S&P | Moody's |
---|---|---|
최상위급, 상황변화에 관계없이 원리금 지불 가능 | AAA | Aaa |
최상급보다 안정성 떨어지나 기본적으로 문제 없음 | AA+, AA, AA- | Aa1, Aa2, Aa3 |
안정성 상위급, 원리금 지불문제 없으나 상황악화 요소 있음 | A+, A, A- | A1, A2, A3 |
현상태의 안정성, 수익성에는 문제 없으나 불황시 주의 요함 | BBB+, BBB, BBB- | Baa1, Baa2, Baa3 |
투기성 있고 장래의 안정성을 보장할 수 없음 | BB+, BB, BB- | Ba1, Ba2, Ba3 |
투자대상으로 부적격, 원리금 지불, 계약조건 유지 불확실 | B+, B, B- | B1, B2, B3 |
원리금 지불 불능 가능성 있음 | CCC 이하 | Caa 이하 |
Hankook & Company is building the foundation for financial soundness and stable growth with a balanced stock distribution
Classification | No. of Shareholders | Proportion | No. of Shares | Proportion |
---|---|---|---|---|
Institutional Shareholders | 530 | 2.37% | 15,063,923 | 15.87% |
Individual Shareholders | 21,848 | 97.56% | 34,556,613 | 36.40% |
Major Shareholders | 15 | 0.07% | 45,097,608 | 47.50% |
Company Shareholders | 1 | 0.00% | 217,096 | 0.23% |
Total | 22,394 | 100% | 94,935,240 | 100% |
Classification | No. of Shares | Proportion |
---|---|---|
Local Shareholders | 86,866,064 | 91.50% |
Foreign Shareholders | 8,069,176 | 8.50% |
Total | 94,935,240 | 100.00% |
(2023.12.31)
Hankook & Company maximizes its shareholder value with its successful business operation based on a stable financial structure.
Classification | 2023 | 2022 | 2021 | 2020 | 2019 | |
---|---|---|---|---|---|---|
Par Value Per Share (Won) | 500 | 500 | 500 | 500 | 500 | |
(Consolidated) Net Income (Million Won) | 187,234 | 166,028 | 197,162 | 169,467 | 151,337 | |
(Separate) Net Income (Won) | 1,750 | 59,145 | 71,483 | 35,120 | 53,196 | |
(Consolidated) Earnings Per Share (Million Won) | 1,975 | 1,726 | 2,095 | 1,848 | 1,650 | |
Total Cash Dividend (Million Won) | 66,303 | 61,707 | 56,960 | 45,848 | 32,093 | |
(Consolidated) Cash Dividend Rate (%) | 35 | 37 | 29.0 | 27.1 | 21.2 | |
Cash Dividend Rate (%) | Common Stock | 4.50 | 4.70 | 3.85 | 3.50 | 2.40 |
Preferred Stock | - | - | - | - | - | |
Stock Dividend Rate (%) | Common Stock | - | - | - | - | - |
Preferred Stock | - | - | - | - | - | |
Cash Dividend Per Share (Won) | Common Stock | 700 | 650 | 600 | 500 | 350 |
Preferred Stock | - | - | - | - | - | |
Stock Dividend Per Share (Won) | Common Stock | - | - | - | - | - |
Preferred Stock | - | - | - | - | - |
(2023.12.31)
Hankook Tire & Technology is building the foundation for financial soundness and stable growth with a balanced stock distribution
Classification | No. of Shareholders | Ratio | No. of Shares | Proportion |
---|---|---|---|---|
Institutional Shareholders | 1,729 | 7% | 63,401,557 | 51% |
Individual Shareholders | 24,516 | 93% | 3,150,045 | 3% |
Largest Shareholder | 24 | 0% | 55,437,151 | 45% |
Treasury stock | 1 | 0% | 1,886,316 | 2% |
Total | 26,270 | 100.00% | 123,875,069 | 100.00% |
Classification | No. of Shares | Proportion |
---|---|---|
Domestic | 70,481,598 | 57% |
Foreigners | 53,393,471 | 43% |
Total | 123,875,069 | 100% |
(Reference date: Dec 31, 2023)
*Treasury stocks do not carry voting rights, and Hankook Tire & Technology follows the principle of one vote per share.
*Shareholders that holder 5% or more shares, excluding largest shareholder and related parties
Hankook Tire & Technology maximizes its shareholder value with its successful business operation based on a stable financial structure.
Classification | 2023 | 2022 | 2021 | 2020 | 2019 | |
---|---|---|---|---|---|---|
Par Value Per Share (Won) | 500 | 500 | 500 | 500 | 500 | |
(Consolidated) net profit during the term (million KRW) | 720,218 | 690,249 | 588,192 | 372,337 | 419,513 | |
(Separate) net profit during the term (million KRW) | 671,690 | 263,413 | 97,779 | 87,353 | 241,218 | |
(Consolidated) earnings per share (KRW) | 5,904 | 5,658 | 4,822 | 3,032 | 3,387 | |
Total cash dividends (KRW million) | 158,585 | 97,591 | 85,392 | 79,293 | 68,119 | |
(Consolidated)Cash Dividend Rate(%) | 22 | 14.1 | 14.5 | 21.3 | 16.2 | |
Cash Dividend Rate(%) | Ordinary shares | 2.9 | 2.4 | 1.7 | 1.6 | 1.6 |
Cash Dividend Per Share (Won) | Ordinary shares | 1,300 | 800 | 700 | 650 | 550 |
(Par value per share: 500 KRW)
Hankook AtlasBX is building the foundation for financial soundness and stable growth with a balanced stock distribution
Classification | No. of Shareholders | Proportion | No. of Shares | Proportion |
---|---|---|---|---|
Institutional Shareholders | 92 | 7.10% | 634,816 | 6.94% |
Individual Shareholders | 1,202 | 92.70% | 320,392 | 3.50% |
Major Shareholders | 1 | 0.10% | 2,848,685 | 31.13% |
Company Shareholders | 1 | 0.10% | 5,346,107 | 58.43% |
Total | 1,296 | 100.00% | 9,150,000 | 100.00% |
Classification | No. of Shares | Proportion |
---|---|---|
Local Shareholders | 8,865,279 | 96.90% |
Foreign Shareholders | 284,721 | 3.10% |
Total | 9,150,000 | 100.00% |
(2019.12.31)
Hankook AtlasBX maximizes its shareholder value with its successful business operation based on a stable financial structure.
Type of Dividend | Type of Stock | Total Cash Dividend | No. of Total Shares Issued | No. of Shares outstanding |
---|---|---|---|---|
Cash | Common Stock | 1,521,557,200KRW | 9,150,000 | 3,803,893 |
(Par Value Per Share: 500 KRW)
Classification | 2017 | 2018 | 2019 | |
---|---|---|---|---|
Par Value Per Share (Won) | 1,000 | 1,000 | 1,000 | |
(Consolidated) Net Income (Million Won) | 42,526 | 49,973 | 42,526 | |
(Separate) Net Income (Won) | 43,221 | 50,694 | 43,221 | |
(Consolidated) Earnings Per Share (Million Won) | 11,180 | 13,137 | 11,180 | |
Total Cash Dividend (Million Won) | 1,522 | 1,522 | 1,522 | |
(Consolidated) Cash Dividend Rate (%) | 3.58 | 3.04 | 3.58 | |
Cash Dividend Rate (%) | Common Stock | 0.81 | 0.77 | 0.81 |
Preferred Stock | - | - | - | |
Stock Dividend Rate (%) | Common Stock | - | - | - |
Preferred Stock | - | - | - | |
Cash Dividend Per Share (Won) | Common Stock | 400 | 400 | 400 |
Preferred Stock | - | - | - | |
Stock Dividend Per Share (Won) | Common Stock | - | - | - |
Preferred Stock | - | - | - |
(2019.12.31)
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The Board of Directors was formed to provide guidance and deliberate on important company agendas, items stipulated by law or in the Articles of Incorporation, details entrusted by general meetings of shareholders, the basic policies of business operations and on essential practices related to business management. The Board of Hankook Technology Group also oversees the execution of directors' duties and abides by Korean Commercial Law, which mandates that businesses with over two trillion won must possess a Board of Directors wherein half are non-executive directors.
The Board also operates four committees—the Audit, NED Nomination, Management and Internal Transactions Committees. The Articles of Incorporation allows for the creation of additional committees as deemed necessary.
Mr. Cho is the Vice Chairman and CEO of Hankook Technology Group, a position he has held since 2012. He joined the company in 1997 and has held various positions including Director of Marketing and Korea Regional Headquarters. He earned his Bachelor's degree in Economics from Syracuse University.
Hyun-Beom Cho, COO of Hankook Technology Group and President of Hankook Tire, joined the company in 1998 and has held various positions, including the Marketing Communications Division head. Mr. Cho is majored in Economics and graduated from Boston College.
※ 3-year term as an elected executive director or non-executive director
No.# | Agenda | Approved Or Not | Name of NED | |||||||
---|---|---|---|---|---|---|---|---|---|---|
Cho, Yang Rae | Cho, Hyun Shick | Min, Hae Young | Lee, Yong Sung | Kim, Soon Kee | Jeon, Byung Jun | Kim, Han Kyu | ||||
Agree or Disagree | ||||||||||
18-Regular-1 (2018.01.26) |
FY2017 4Q consolidated results report | Approved | Agreed | Agreed | Agreed | Agreed | Agreed | N/A | N/A | |
18-Temp-1 (2018.02.08) |
FY2017 separate, consolidated financial statements approval | Approved | Absent | Agreed | Agreed | Agreed | Agreed | |||
18-Temp-2 (2018.02.28) |
Decision of the FY2017 (64th business year) cash dividend | Approved | Absent | Agreed | Agreed | Agreed | Agreed | |||
FY2017 Financial Statement Approval | Approved | Absent | Agreed | Agreed | Agreed | Agreed | ||||
Decision to convene the General Shareholders' Meeting | Approved | Absent | Agreed | Agreed | Agreed | Agreed | ||||
Decision of the General Shareholders' Meeting agenda items | Approved | Absent | Agreed | Agreed | Agreed | Agreed | ||||
Internal accounting management system operation status report | Approved | Absent | Agreed | Agreed | Agreed | Agreed | ||||
Appointment of Internal Accounting Control Officer | Approved | Absent | Agreed | Agreed | Agreed | Agreed | ||||
18-Temp-3 (2018.03.26) |
Appointment of the Internal Transactions Committee member | Approved | Absent | Agreed | N/A | N/A | Agreed | Agreed | Agreed | |
Appointment of the NED Recommendation Committee member | Approved | Absent | Agreed | Agreed | Agreed | Agreed | ||||
18-Regular-2 (2018.04.27) |
FY2018 1Q consolidated results report | Approved | Absent | Agreed | Agreed | Agreed | Agreed | |||
18-Regular-3 (2018.07.31) |
FY2018 1H consolidated results report |
Approved | Absent | Agreed | N/A | Agreed | Agreed | |||
18-Regular-4 (2018.10.26) |
FY2018 3Q consolidated results report | Approved | Absent | Agreed | Agreed | Agreed | Agreed |
※ The following change has been made to the directors in the general shareholders' meeting on March 26, 2018.
(External Director Hae-Young Min resigned and Yong-Sung Lee newly appointed as an External Director)
(External Director Byeong-Joon Jeon resigned and Han-Kyu Kim newly appointed as an External Director)
Hankook Technology Group Audit Committee consists of three members, all of whom are outside directors (NED).
In order to facilitate the access to operational information needed for auditing by the Audit Committee, Hankook Tire has established "Audit Committee Operation Regulations," as its internal regulation; by specifying the permission to request the directors at any time for reports regarding the operations, or to investigate the company's financial status, it provides the basis for such activities.
※ 3 year term based on the appointed date
The Audit Committee is comprised of the Regular Committee and the Temporary Committee, where the Regular Committee shall convene once every quarter. However, the chairperson reserves the right to postpone or suspend the meeting due to unavoidable circumstances. In this case, the Temporary Committee convenes as necessary.
The Committee is assembled by the chairperson. Each member reserves the right to demand assembly of the Committee by presenting the reason for such to the chairperson. If the chairperson chooses not to assemble the Committee without fair reason, the member who demanded the assembly may convene the meeting by him or herself.
In assembling the Committee, the date of the meeting is decided with notifications sent to each member one week before the date. However, upon agreement by all members, a meeting can be convened at an agreed time.
Resolutions of the Committee are made through the attendance of at least half of the members. However, members can permit participation in resolutions without direct attendance through such means as video conferencing. In such cases, the member(s) concerned is considered to have directly attended the meeting.
Matters to be referenced by the Committee are as include:
Members may demand the attendance of management, related staff and the external auditor in any meeting where such attendance is considered necessary for work execution. And in the case where such attendance is recognized as necessary, members may request advice from outside experts, in which the expenses will be covered by the company.
Meeting minutes are recorded at each Committee meeting. They include the agenda, issues discussed, results, individual opposing and the reasons for the opposition. The members attending the meeting seal or sign the minutes.
No.# | Agenda | Approved Or Not | Name of NED | |||||
---|---|---|---|---|---|---|---|---|
Min, Hae Young | Lee, Yong Sung | Kim, Soon Kee | Jeon, Byung Jun | Kim, Han Kyu | ||||
Agree or Disagree | ||||||||
18-Regular-1 (2018.01.26) |
FY2017 consolidated profit 4th-quarter results report | Approved | Agreed | Agreed | Agreed | N/A | N/A | |
18-Temp-1 (2018.02.28) |
Internal accounting control system operation status report | Approved | Agreed | Agreed | Agreed | |||
FY2017 financial statements approval | Approved | Agreed | Agreed | Agreed | ||||
Review of the General Shareholders' Meeting agenda items | Approved | Agreed | Agreed | Agreed | ||||
18-Temp-2 (2018.03.26) |
Appointment of the Chairman of Audit Committee | Approved | N/A | N/A | Agreed | Agreed | Agreed | |
18-Regular-2 (2018.04.27) |
FY2018 Consolidated Profit 1st-Quarter Results Report | Approved | Agreed | Agreed | Agreed | |||
18-Temp-3 (2018.06.15) |
FY2018 Report on Audit Plans and Key Audit Matters | Approved | Agreed | Agreed | N/A | |||
18-Regular-3 (2018.07.31) |
FY2018 Consolidated Profit 1st-Half Results Report | Approved | N/A | Agreed | Agreed | |||
FY2018 Report on Selecting Key Audit Matters | Approved | N/A | Agreed | Agreed | ||||
18-Regular-4 (2018.10.26) |
FY2018 Consolidated Profit 3rd-Quarter Results Report | Approved | Agreed | Agreed | Agreed | |||
18-Temp-4 (2018.12.19) |
Selection of external auditor | Approved | Agreed | Agreed | Agreed |
As a corporation with over KRW 2 trillion won in assets, Hankook Technology Group is required by Clause 8 of 2 of Article 542 to set up a Non-executive Director (NED) Nomination Committee to recommend non-executive director candidates.
Hankook Technology Group's External Director Candidate Recommendation Committee consists of Soon-Ki Kim (Chairman), Byeong-Joon Jeon, Han-Kyu Kim, Hyun-Shick Cho and Hyun-Beom Cho; the External Directors are Soon-Ki Kim, Byeong-Joon Jeon and Han-Kyu Kim.
The Committee has the right to recommend non-executive director candidates during the general assembly of shareholders. In deciding on non-executive director candidates, the Committee must include candidates proposed by shareholders who exercise their right for Nomination as stated in Clause 1 of 2 of Article 363 and Clause 1 and 2 of 6 of Article 542 of the Commercial Law.
Committee members may be appointed and dismissed by the Board of Directors, where the Committee must be comprised of two or more directors, and more than half of the total members shall be non-executive directors.
The chairperson represents the Committee and acts as chair during Committee meetings. When the chairperson can no longer fulfill his or her duties due to unforeseen circumstances, a member of the Committee will be selected by the Committee and act as his or her proxy.
The Non-executive Director (NED) Recommendation Committee is summoned by the chairperson. However, in cases where the chairperson cannot fulfill his duty due to an unforeseen situation, his or her proxy may convene meetings.
Each Committee member may request the convening of a Committee meeting by providing a motion and reason to the chairperson. In cases where the chairperson chooses not to convene the Committee without fair reason, the member who requested the meeting can convene the Committee by him or herself.
In summoning the Committee, each member of the Committee must be notified at least one week prior to the meeting date.
Resolutions of the Committee are made through the attendance of over half of current members and by more than half of those members in attendance. The Committee can also pass resolutions without all or part of members directly attending through teleconferencing.
The Committee is responsible for recommendation of external director candidates and other matters in relation to the nomination of external director candidates.
The Committee reserves the right to request the attendance of management, staff or external figures to a meeting if their presence is deemed necessary for effective proceedings, and the Committee must notify each director of matters resolved within two days.
Minutes are recorded for all meetings of the Committee, and should include all proposals and their details and members who have attended should sign or place their seal in the minutes book.
A Human Resources officer shall be appointed as a secretary who shall be in charge of the Committee's affairs under the direction of the Chairperson.
The Management Committee is composed of directors within the company, led by Cho, Hyun Shick, Vice Chairman and CEO at Hankook Technology Group.
Through the authority of the Board of Directors to delegate, the Committee may deliberate on and resolve matters other than the following:
The Committee may deliberate on matters that require review prior to being referred to the Board of Directors, and may deliberate on and resolve risk management issues and any other daily management-related issues.
Members of the Committee are elected and dismissed by the Board of Directors, and the Committee is composed of at least two directors elected by the Board of Directors.
The Chairperson of Management Committee represents the Committee and acts as the Chairperson of a Committee Meeting. If the Chairperson of the Committee is absent or unable to perform his or her duties, a member shall be appointed by the Committee to vicariously his or her duties.
Meetings are classified as either ordinary meetings or extraordinary meetings. Ordinary meetings in principle are held on the third or fourth Monday of every month; however, if there are unavoidable circumstances, an ordinary meeting may be rescheduled to another date with prior notice. Extraordinary meetings are held when required.
The chairman of the Management Committee can convene Committee meetings. If the chairman of the Committee does not convene a meeting with a lack of reasonable grounds, the member who made the request may convene a meeting of the Committee in any case.
When a Managment Committee meeting is to be convened, the date of meeting may be specified and a notice must be sent to each member of the Committee one (1) week prior to the date of the meeting. If all Committee members have consented, meetings may be held at any time without following the procedure in Section 1.
Resolutions of the Committee shall be made by a majority of members in attendance, and with a majority affirmative vote by those members. The Committee may allow all members, or a part thereof, to participate in resolutions of the Committee by video conference in lieu of attending the meeting in person. In such case, those member(s) may be deemed to have attended the meeting in person.
Where the Committee finds it necessary to perform its duties, it may summon related officers, employees, and third parties to attend a meeting to hear the opinions of Committee members. Minutes shall be executed for all meetings of the Committee and must include the meeting agenda, proceedings, resolutions, persons in opposition to the resolutions, and the grounds for their objection. Members in attendance shall place their names and seals, or sign their names, in the Minutes. The details of resolutions made by the Committee must be reported to the Board of Directors within five days.
Each director who has received a notice on the matters resolved by the Committee may request the chairman of the Board of Directors to convene a meeting of the Board of Directors within two (2) days from the date when the director has received the notice, and the Board of Directors may resolve the issue made by the Committee again. If a director does not request a meeting of the Board of Directors within the period set forth, after the director has received a notice of resolutions of the Committee, the resolutions of the Committee may not be resolved again by the Board of Directors.
The Department Director of the Corporate Management Department acts as the secretary, which shall be responsible for the general affairs of the Committee according to the directions of the chairman of the Committee.
The Internal Transactions Committee is entrusted by the Board of Directors with the right of approval regarding large-scale internal transactions based on Clause 2 of Article 393 of the Commercial Law, Article 43 of the Articles of Association, and Clause 1, Article 11 of the Regulations for the Operation of the Board of Directors to ensure transparency and fair transactions. All matters related to the Committee are decided in accordance with these regulations with the exception of regulations set forth by law, the Articles of Association of the regulations of the Board of Directors.
Hankook Technology Group's Internal Transaction Committee includes Kim, Soon Kee (Chairman of Committee), Jeon, Byung Jun and Kim, Han Kyu.
The Internal Transaction Committee is re-appointed after the annual Ordinary General Meeting of Shareholders. The Committee members shall serve a term of one (1) year. However, in the event of any interim vacancy in the Committee, the remaining term of the predecessor(s) will be assumed.
The Internal Transactions Committee has as its counterpart individuals who specialize in laws governing monopoly regulations and fair transactions. It also has the authority to evaluate and approve transactions pertaining to any of the items listed below, and transactions amounting to 5 billion won or more. It is also responsible for evaluating and approving intentions to change other major details of the transactions.
When the Committee has granted approval according to these regulations, notification of all details is provided to each director. Directors who have been notified can request an assembly of the Board of Directors, and can seek reconsiderations of matters resolved by the Committee.
When evaluation and approval of an agenda is required, the Committee can request relevant company records, including the main details of the related transactions, method of agreements and standards for selection of transaction counterparts.
Members of the Committee is appointed through a resolution of over half of the members of the Board of Directors. The same procedure shall be applied in the case of dismissals.
Comprised of three or more external directors, the Committee is reorganized annually after the convening of the regular general assembly of shareholders. The term of members of the Committee is one year. In case of recruitment for unexpected vacancies, recruited individuals may fulfill the remaining term of the individual replaced.
The Chairperson of the Internal Transaction Committee shall serve a term of one (1) year. If the Chairperson of the Committee is absent or unable to perform his or her duties, a member shall be appointed by the Committee to vicariously his or her duties.
The Committee may be summoned by the chairperson, whereas each member of the Committee has the right to request assembly of the Committee by stating a motion and reason for such to the chairperson. If the chairperson chooses not to assemble the Committee for over one week without providing a fair reason, the member of the Committee who requested the assembly may convene the meeting by him or herself.
When convening the Committee, the date of the meeting may be decided and notifications made to each member at least seven days prior to the meeting date. When there is agreement among all members of the Committee, the Committee may omit the assembly procedures.
Resolutions relating to the internal transactions of the Committee is made by agreement of over half of the current members of the Committee. Regarding other matters, resolutions may be made if over half of the current members of the Committee are in attendance and if over half of those in attendance agree. If not enough members of the Committee can attend, resolutions can be made through teleconference.
If necessary, the Committee reserves the right to request the attendance of related management, employees or external individuals to meetings when their presence is required for effective proceedings. Minutes may be recorded for all meetings of the Committee, and should include the meeting agenda, procedures and results of the meeting. Any opposition by individuals may be put in writing, and members of the Committee who attended need to sign or place their seal in the minutes book.
When the company concludes an agreement which has a material impact on the company's profits, including large-scale contracts with other affiliated companies where the monetary amount of the transaction is 5 billion won or more, detailed records related to the transaction is to be preserved for a minimum of three years from when the contract takes effect.
This employee Code of Ethics (the "Code") is intended to set forth, and govern, the ethical conduct of all individuals employed by Hankook Tire (the "Company"). Its purpose is to ensure that the company and those acting on its behalf conduct business according to our values and all company policies.
This Code of Ethics applies to all members of Hankook Tire, as well as to directors, shareholders including vendors those who are in relation with the Company.
Employees shall aim to be free of accidents at work by strictly abiding by all safety regulations and guidelines. Employees are encouraged to be positive both in their thoughts and actions, and to help maintain a cheerful and liberal work environment.
In cases where employees are aware that their actions or the actions of others have violated ethical standards, employees shall report that fact to Audit Team.
Whistleblower shall not receive any retaliatory action of any kind; identity of the person shall be kept anonymous and protected.
The purpose is to provide judgmental and behavioral guidelines for the application of the Hankook Tire Code of Ethics to actual cases; the company has set out ethical behavioral guidelines for its employee. The guidelines define the specifications regarding unlawful enticement or inducement.
Act | Examples | Appropriate Countermeasure |
---|---|---|
Inducement | Cash, checks, gift certificates, tickets, gifts | Forbidden (You are obliged to report the returning of items in excess of the given limits.) |
Investments | Movable or immovable property, business rights, memberships, equities | Prohibited |
Surrogate payment of liabilities | Credit card bills, bills, loans | |
Cash transaction | Borrowing money | |
Bargain goods | Making a profit by purchasing goods at bargain value | |
Notice of personal events | Invitations (e.g., wedding, funeral, etc) sent indiscriminately to business partners or to vendors in any form. |
Any item received that exceeds nominal value of one hundred ($100) US dollars shall be reported according to the procedures listed below and to be returned or disposed. However, when received items are less than $100 USD shall be returned without filing a report.
The conventionally accepted give and take of items as provided below are within the generally accepted limit and shall not be considered enticements:
Any unwillingly received inducement shall be dealt with according to the following procedures:
Category | Prohibited Establishments (Extravagant and Lavish Establishments) on behalf of the Company |
---|---|
Drinking | Hostess Bar, Lounge/Bar, Clubs |
Gambling | Casinos |
*These are prohibited for all employees of Hankook Tire when in fact acting on behalf of the Company.
Category | Example | Countermeasure |
---|---|---|
Business trips paid by an outside party | Train, airline, bus tickets or accommodation for visits to a stakeholder's business premises or business trips together | Expenses must be paid back in full from Hankook Tire |
Vacation expenses paid for by an outside party | Train, airline, bus tickets, car expenses or accommodation for personal purposes | Prohibited |
Guarantee of future employment from an outside party | Guarantee of employment, placement plan or entering into an agreement for other benefits, professionally and/or personally | |
Co-signing of loans | Co-signing a loan | |
Loans | Lending or providing assets as collateral for loans |
The purpose of these guidelines is to encourage members' proper social media use and prevent damage to the company's reputation caused by improper use of social media by employees.
Employees shall not infringe copyright, trademark, publicity right, or other relevant property rights owned by other organization(s) and individual(s).
Employees shall neither use the company's Corporate Image (CI) — such as the company logo or other related branded images — for personal use, nor violate Hankook Tire's official CI guidelines for business use.
Employees should be aware that Hankook Tire's Code of Ethics and any other policies, contained herein are applied to use of online and social media platforms.
These guidelines shall come into effect from July 1, 2014.
These guidelines attempt to protect and support whistleblowers of misconduct within the Company to prevent improper practices and to improve work processes by defining necessary matters for operating a whistleblowing system such as receiving and processing disclosures, protecting and rewarding whistleblowers.
These guidelines are applied to employees of the Company and all persons concerned and outsiders including subcontractors having transaction relationships with the Company.
The terms used in these guidelines are stipulated as such:
If a disclosure is found to be any of the following, the Audit Team may cease all proceedings and close the disclosure case without an investigation.
In the following circumstances, the reward shall not be provided:
If the individual eligible for rewards is discovered to be ineligible for rewards after the reward or exemption is granted, the reward may be redeemed and the exemption may be cancelled.
These guidelines shall become effective on July 1, 2015.