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• Changes the holding company’s name to Hankook & Company to enhance competitiveness and future growth
• Embodies the group’s long-term vision taking consideration into strategic M&A and business expansion
• Names of affiliates including Hankook Tire & Technology will remain unchanged

Seoul, Korea, December 29, 2020 – Hankook Technology Group, the holding company of Hankook Tire & Technology, will change its name to Hankook & Company once the proposal is approved at the Extraordinary General Meeting, which will be held on December 29, 2020.

The new name, Hankook & Company, embodies the company’s long-term vision and will to secure a future growth engine and push harder for sustainable growth, taking consideration into strategic M&A and business expansions in years to come. Under a unified brand system using the name ‘Hankook’ that has attained worldwide recognition, Hankook & Company aims to leverage its affiliates’ brand awareness and create synergy effect.

The major affiliates of Hankook & Company will accelerate technological innovations and service development on the global stage in various areas from sales to recruitment and community service activities, and will contribute to consolidating the future competitiveness of the entire group.

In the meantime, the company will boost innovation and creativity in internal communication and collaboration, further fostering its unique corporate culture called ‘Proactive Culture’. Through Proactive Culture, the company encourages all employees to become voluntary innovators as they are the ones who create breakthrough technologies and are the backbones of the sustainable business growth.

The affiliates’ names stay the same: Hankook Tire & Technology Co., Ltd., Hankook AtlasBX Co., Ltd., Hankook Precision Works Co., Ltd., Hankook Networks Co., Ltd., Hankook Engineering Works Co., Ltd., Hankook Car & Life Co., Ltd., and Model Solution Co., Ltd.