Hankook & Company pursues transparent disclosure of corporate investments.
"We will do our utmost to diversify our investment portfolio to
include mobility and future tech-based industries while reinforcing our
integrated brand framework around our key concept ‘Hankook’ so as
to position us as a premium brand with our customers."
Chairman & CEO, Hankook & Company
Division | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
Net Sales | 8,476 | 8,192 | 9,633 | 10,959 |
Gross Profit | 2,592 | 2,415 | 3,272 | 3,422 |
Operating Profit | 1,709 | 1,578 | 2,283 | 2,452 |
Income Before Taxes | 1,967 | 1,719 | 2,277 | 2,473 |
Net Profit | 1,633 | 1,796 | 2,000 | 1,660 |
Sales Growth | -0.05% | -3.27% | 17.59% | 13.77% |
OP Growth | -19.20% | -8.00% | 44.72% | 7.40% |
(Billion KRW)
Division | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
GP Margin | 30.58% | 29.50% | 34.00% | 31.23% |
OP Margin | 20.16% | 19.30% | 23.70% | 22.37% |
Ordinary Margin | 23.21% | 21.00% | 23.64% | 22.57% |
NP Margin | 19.27% | 21.90% | 20.80% | 15.15% |
Division | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|
Liabilities | 2,285 | 2,920 | 3,458 | 4,454 |
Debt Ratio | 6.76% | 8.34% | 9.26% | 11.50% |
Current Assets | 5,244 | 5,989 | 6,303 | 5,314 |
Current Ratio | 388.16% | 295.15% | 260.44% | 186.26% |
Current Liabilities | 1,351 | 2,029 | 2,420 | 2,853 |
Assets | 36,071 | 37,925 | 40,812 | 43,018 |
Equity | 33,786 | 35,005 | 37,355 | 38,564 |
Net Worth to Assets | 93.67% | 92.30% | 91.53% | 89.65% |
(Billion KRW)
Future Business portfolio
'S.T.R.E.A.M'
Ev High Tech Exclusive
Product
Hankook Technoring, Asia’s
largest tire test drive site
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.
2019 HankookTireWorldwide_Seperate Financial Statement
2019 HankookTireWorldwide_Consolidated Financial Statement
2020 HANKOOK&COMPANY_Separate Financial Statements
2020 HANKOOK&COMPANY_Consolidated Financial Statements
2018 HankookTireWorldwide_Consolidated Financial Statement
2018 HankookTireWorldwide_Seperate Financial Statement
We launched a new EV tire brand in the first half of 2022 and further
develop our technology through the tire supply for Formula E,
which will begin in the second half of this year, thus consolidating
our leadership in the global EV tire market."
President & CEO Hankook Tire & Technology
Division | 2020 | 2021 | 2022 |
---|---|---|---|
Net Sales | 6,453 | 7,141 | 8,394 |
Gross Profit | 1,903 | 1,947 | 2,103 |
Operating Profit | 628 | 642 | 706 |
Income Before Taxes | 578 | 713 | 858 |
Net Profit | 385 | 595 | 706 |
Sales Growth | -6.3% | 10.7% | 17.5% |
OP Growth | 15.5% | 2.2% | 9.9% |
(Billion KRW)
Division | 2020 | 2021 | 2022 |
---|---|---|---|
GP Margin | 29.5% | 27.3% | 25.0% |
OP Margin | 9.7% | 9.0% | 8.4% |
Ordinary Margin | 9.0% | 10.0% | 10.2% |
NP Margin | 6.0% | 8.3% | 8.4% |
Division | 2020 | 2021 | 2022 |
---|---|---|---|
Liabilities | 3,246 | 3,499 | 3,706 |
Debt Ratio | 43.8% | 42.6% | 41.8% |
Current Assets | 4,688 | 5,509 | 6,436 |
Current Ratio | 263.2% | 294.7% | 222.9% |
Current Liabilities | 1,781 | 1,869 | 2,887 |
Assets | 10,659 | 11,694 | 12,581 |
Equity | 7,412 | 8,196 | 8,876 |
Net Worth to Assets | 69.5% | 70.1% | 70.5% |
(Billion KRW)
Future Business portfolio
'S.T.R.E.A.M'
Ev High Tech Exclusive
Product
Hankook Technoring, Asia’s
largest tire test drive site
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.
2016 HankookTire_Seperate Financial Statement
2017 HankookTire_Consolidated Financial Statement
2017 HankookTire_Seperate Financial Statement
2018 HankookTire_Consolidated Financial Statement
2018 HankookTire_Seperate Financial Statement
2016 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 our sincere appreciation for the unwavering support you have provided for Hankook & Company’s continued growth amid a challenging business environment at home and abroad.
Over the past two years, we have navigated the challenges presented by the COVID-19 pandemic. Nonetheless, today’s global business environment faces ever growing uncertainties, and moves to an era where new markets grow out of unpredictable and unprecedented innovation. In the midst of these changes, we are making various efforts with the aim to create new values and strengthen our market leadership.
In 2021, Hankook & Company launched newly as an operating holding company consisting of a holding company and business headquarters, and achieved KRW963.3 billion in sales and KRW228.3 billion in operating profit, which represent a 17.6 percent increase in sales and a 44.7 percent increase in operating profit year on year. With the new business structure in which the holding company is responsible for group-wide growth strategy and brand management whereas ES Business Headquarters ensures a stable cash supply, we serve as a holding company that directly engages in business operations, thereby reinforcing business competitiveness and increasing shareholder values.
To this end, the holding company has laid the groundwork with the launch of its new long-term business portfolio ‘S.T.R.E.A.M.’ And the acquisition of a majority stake in Preciseley Microtechnology Corp, a Canada-based optic micro-electromechanical system solutions developer, marks our first step toward the direction, as ‘R’ points to Rising Tech
which is to be adapted for business portfolio diversification.
Preciseley Microtechnology is a global leader in optic micro-
electromechanical system (MEMS) solutions, registering the largest share in the MEMS Mirror market led by an impressive business growth. The company is projected to further expand its portfolio to include autonomous vehicle solutions as well as other parts for optical communications systems, which will allow us to tap synergies between new business areas in the future.
ES Business Headquarters whose key business is lead-acid battery manufacturing and sales has increased sales thanks to the increased battery sales in the global markets and optimized sales strategies tailored for each region. Our focus for 2022 encompasses expanding our global sales network and continuing efforts to develop smart energy solutions as well as stabilizing the operations of our Tennessee plant.
As for our key subsidiary Hankook Tire & Technology, it recorded solid sales of KRW7.141 trillion in 2021, resulting in greater than a 10 percent rise in sales year-on-year. We also successfully delivered new tires specially designed for electric vehicles (EVs) from major makers, including Porsche, Audi and Volkswagen, thanks to our prompt response to market changes by establishing customized technology development strategies for each segment even before EVs were widely available.
The company launches new EV tire brand ‘iON’ in May 2022, introducing the world’s first full line of tires specifically for EVs. In addition, all racing cars competing in the 2022-23 FIA Formula E World Championship in
the second half of the year will be equipped with our bespoke EV tires. We believe Formula E will help us accelerate innovation in tire technology and take the lead in the evolving global EV market.
Shareholders,
We strive to speed up the execution of our strategy to both consolidate and coordinate all group-wide capabilities and resources to maximize synergy. By fully leveraging the group’s strengths – the brand value of the holding company and its affiliates, their global network and customer contacts, and M&A capabilities – we will explore untapped opportunities to secure innovation-leading new technology.
Furthermore, we will do our utmost to diversify our investment portfolio to include mobility and future tech-based industries while reinforcing our integrated brand framework around our key concept ‘Hankook’ so as to position us as a premium brand with our customers.
I look forward to your continued support and interest in our journey to emerge as a global business group trusted by key stakeholders for relentless improvement of its future strategy and business performance.
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.
Despite expectations of a global economic recovery, 2021 was fraught with uncertainties stemming from the ongoing COVID-19 pandemic, vehicle semiconductor shortage, and global logistics disruptions. In this uncertain business environment, however, Hankook Tire & Technology delivered strong results with sales rising more than ten percent year on year to KRW7.141 trillion.
Today’s automotive industry evolves rapidly with innovative changes such as EV, autonomous driving and digital transformation. In a bid to ensure timely response to the fast-paced environment and secure new growth engines, we have made various efforts to preempt the global EV tire market.
Last year, we supplied new tires to electric vehicles of major makers such as Porsche, Audi, and Volkswagen, with strategies to develop customized technologies for EVs. We have also won the tender to supply tires for all Formula E Gen3 cars for the 2022-23 season.
Building upon the achievements, we plan to launch a new EV tire brand in the first half of 2022 and further develop our technology through the tire supply for Formula E, which will begin in the second half of this year, thus consolidating our leadership in the global EV tire market.
We give top priority to enhancing product quality, which is key to improving our premium brand value. Hankook tires topped the rankings of some performance tests organized by major magazines in Germany and the UK. Leading German magazine Auto Bild also awarded us the title of Manufacturer of the Year 2021, a testament to our technical excellence.
Additionally, we have been included in the prestigious Dow Jones Sustainability Index (DJSI) World in 2021 for the sixth consecutive year. Hankook Tire & Technology was one of the only 21 Korean companies that made the DJSI World list, and was ranked No. 1 in the auto components industry.
Making the world-renowned sustainability assessment index for six years back-to-back is an achievement we have earned through diligent efforts to uphold ESG management. We were recognized for our initiatives in sustainability management in such areas as Corporate Citizenship and Philanthropy, human rights protection, supply chain management and R&D innovation.
The business environment is forecast to remain harsh both at home and abroad in 2022. Amidst global logistics disruptions, soaring raw material prices, and vehicle semiconductor shortage issues, Hankook Tire & Technology will focus on driving innovation, thus securing future competitiveness and promoting sustainable growth and shareholder value.
To this end, we strive to exceed the market demand and achieve double-digit year-on-year sales targets through boosting high-inch tires, optimizing distribution downstream for each region, and strengthening the competitiveness of our future growth segments, which are EV, run-
flat, and Sealguard tires.
Dear Shareholders,
As the business environment evolves, Hankook Tire & Technology remains committed to enhancing our core business strengths and to enhance shareholder value by leading the future mobility market.
In parallel, we sincerely vow to foster transparency and expertise in our business with an independent Board of Directors, and to ensure that stakeholder interests are given the best possible protection. We also aim to establish a global top-tier ESG management environment through enhancing performance management of non-financial indicators and implementing systems necessary for ensuring a safe work environment.
Through these challenging times, I ask for your continued support and interest and I hope all of you and your loved ones remain in good health and spirit.
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 | 556 | 2.52% | 16,611,850 | 17.50% |
Individual Shareholders | 21,490 | 97.38% | 9,541,651 | 10.05% |
Major Shareholders | 22 | 0.10% | 68,780,549 | 72.45% |
Company Shareholders | 1 | 0.00% | 1,190 | 0.00% |
Total | 22,069 | 1 | 94,935,240 | 100.00% |
Classification | No. of Shares | Proportion |
---|---|---|
Local Shareholders | 87,245,762 | 91.90% |
Foreign Shareholders | 7,689,478 | 8.10% |
Total | 94,935,240 | 100.00% |
(2022.12.31)
Hankook & Company 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 | 61,707,132,500KRW | 94,935,240 | 94,934,050 |
(Par Value Per Share: 500 KRW)
Classification | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Par Value Per Share (Won) | 500 | 500 | 500 | 500 | |
(Consolidated) Net Income (Million Won) | 151,337 | 169,467 | 197,162 | 166,028 | |
(Separate) Net Income (Won) | 53,196 | 35,120 | 71,483 | 59,145 | |
(Consolidated) Earnings Per Share (Million Won) | 1,650 | 1,848 | 2,095 | 1,726 | |
Total Cash Dividend (Million Won) | 32,093 | 45,848 | 56,960 | 61,707 | |
(Consolidated) Cash Dividend Rate (%) | 21.2 | 27.1 | 29.0 | 37 | |
Cash Dividend Rate (%) | Common Stock | 2.40 | 3.50 | 3.85 | 4.70 |
Preferred Stock | - | - | - | - | |
Stock Dividend Rate (%) | Common Stock | - | - | - | - |
Preferred Stock | - | - | - | - | |
Cash Dividend Per Share (Won) | Common Stock | 350 | 500 | 600 | 650 |
Preferred Stock | - | - | - | - | |
Stock Dividend Per Share (Won) | Common Stock | - | - | - | - |
Preferred Stock | - | - | - | - |
(2022.12.31)
Hankook Tire & Technology 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 | 1,674 | 4.35% | 63,225,379 | 51.04% |
Individual Shareholders | 36,741 | 95.58% | 5,212,254 | 4.21% |
Major Shareholders | 24 | 0.06% | 53,551,120 | 43.23% |
Company Shareholders | 1 | 0.00% | 1,886,316 | 1.52% |
Total | 38,440 | 100.00% | 123,875,069 | 100.00% |
Classification | No. of Shares | Proportion |
---|---|---|
Local Shareholders | 75,518,557 | 60.96% |
Foreign Shareholders | 48,356,512 | 39.04% |
Total | 123,875,069 | 100.00% |
(Reference date: Dec 31, 2022)
Hankook Tire & Technology 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 | 85,392,127,100KRW | 123,875,069 | 121,988,753 |
(Par Value Per Share: 500 KRW)
Classification | 2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|---|
Par Value Per Share (Won) | 500 | 500 | 500 | 500 | 500 | |
(Consolidated) Net Income (Million Won) | 522,215 | 419,513 | 372,337 | 588,192 | 690,249 | |
(Separate) Net Income (Won) | 243,936 | 241,218 | 87,353 | 97,779 | 263,413 | |
(Consolidated) Earnings Per Share (Million Won) | 4,216 | 3,387 | 3,032 | 4,822 | 5,658 | |
Total Cash Dividend (Million Won) | 55,734 | 68,119 | 79,293 | 85,392 | 97,591 | |
(Consolidated) Cash Dividend Rate (%) | 10.7 | 16.2 | 21.3 | 14.5 | 14.1 | |
Cash Dividend Rate (%) | Common Stock | 1.1 | 1.6 | 1.6 | 1.7 | 2.4 |
Preferred Stock | - | - | - | - | - | |
Cash Dividend Per Share (Won) | Common Stock | 450 | 550 | 650 | 700 | 800 |
Preferred Stock | - | - | - | - | - |
(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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2018 HankookTire_Seperate Financial Statement | 2019-05-31 | Attachments |
2018 HankookTire_Consolidated Financial Statement | 2019-05-31 | Attachments |
2017 HankookTire_Seperate Financial Statement | 2018-05-31 | Attachments |
2017 HankookTire_Consolidated Financial Statement | 2018-05-31 | Attachments |
2016 HankookTire_Seperate Financial Statement | 2017-05-31 | Attachments |
2016 HankookTire_Consolidated Financial Statement | 2017-05-31 | Attachments |
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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.