In January 2013, Hankook Tire announced the official appointment of Lee Soo-il as China's Regional Minister, which is the latest personnel change in Hankook Tire's recent presence in China. In the past three years, Hankook Tire (hereinafter referred to as "Hankook") has replaced two coaches in China.
Prior to his performance, Li Xiu-ri was the top man in the South American Region of Hankook. During his three-year leadership, Li Xiuri increased the local sales in the United States by more than 80%.
In response to the market in China, he stated that he had three goals: to increase the market share of Hankook Tire in the high-performance tire market (hereinafter referred to as “high-end tiresâ€); the market share of replacement tires in China was changed from second to first; The domestic OEM market (that is, direct matching of tires for auto manufacturers) continues to maintain its top position.
Hankook Tire's sales in 2012 reached US$6.46 billion, an increase of 8.3% year-on-year, and operating profit was 919.2 billion won, a substantial year-on-year increase of 57%.
Hankook has 30 million sales in China (one-third of the world's total). Li Xiuri said that the most important task for him is to expand the market share of Hankook in the replacement of the tire market on an existing basis.
To this end, the total number of replacement tires currently available to Hankook in China (6 million pieces) will be the first to exceed market share (exceeding Michelin) in three years, and Hankook's retail outlets (to be increased from the existing 1,100 pieces). Increased to 1,400; at the same time, he also plans to increase Hankook’s marketing expenses in China.In the past few years, Hankook Tire's marketing expenses have increased by about 10% to 15% annually, and last year it has reached 200 million yuan. This year, there is an estimated growth of about 10%.
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