Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
DBS Expects Slight Dip in 2026 Net Profit After Q4 Earnings Miss on Lower Interest Margins 
Samsung Electronics Shares Jump on HBM4 Mass Production Report 
UK Starting Salaries See Strongest Growth in 18 Months as Hiring Sentiment Improves 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Anta Sports Expands Global Footprint With Strategic Puma Stake 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
American Airlines CEO to Meet Pilots Union Amid Storm Response and Financial Concerns 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Taiwan Says Moving 40% of Semiconductor Production to the U.S. Is Impossible 
Hankook Tire revealed it had signed a deal to supply tires for a model of Porsche sports car. The South Korean tire maker is the seventh-largest in the world based on sales, and on Thursday, April 22, it confirmed the start of its business with the German automaker that specializes in the production of high-end sports cars.
Hankook and Porsche’s deal
As per Yonhap News Agency, Hankook Tire will be the main supplier of tires for Porsche’s 2021 718 Boxter model units. The company already started shipping the ring-shaped rubber that would be installed on the supercars.
In fact, Hankook Tire shared that it has delivered a number of its high-performance Ventus S1 Evo 3 tires for the Porsche 718 Boxter since the start of this year. Then again, the Korean company did not mention until when it will be supplying tires for the German carmaker. The value of the deal was not disclosed as well.
This is actually not the first time that Hankook partnered with Porsche as it has already supplied tires for the Cayenne and Macan SUVs as well as the Taycan sports electric car. These models were fitted with Hankook’s original equipment (OE) tires.
Hankook in the global business scene
Porsche is not the only luxury car company that prefers Hankook tires, but it has been furnishing its products to BMW, Audi, Mercedes-Benz, and almost 50 other car brands and 320 types of vehicles. Being able to have ties with such big names truly enhanced the Korean tire maker’s image, and it was able to bring its name to the global stage too.
Amid the COVID-19 pandemic, it was said that Hankook Tire’s revenues dropped by 10% to KRW385.2 billion. In the previous year, it secured KRW429.6 billion earnings. This year, the company is hoping to recoup its losses, and this new deal with Porsche is a start.
"Porsche stands for particularly high-performance sports cars, delivering a high level of driving pleasure and, at the same time, full suitability for everyday use. However, this also makes tire development very complex," Hankook Europe president, Lee Sang Hoon, said in a press release regarding the deal with Porsche. "We are therefore very pleased with this original equipment, as it demonstrates the impressive performance of our products across the entire range."
