Hankook Tire partners with Hapag-Lloyd AG to strengthen logistics capabilities

- Signed a stretched partnership deal with the world’s fifth-largest liner shipping company
- Hapag-Lloyd to provide a stable supply of shipping containers and sustainable logistics services
- The agreement to enhance Hankook’s export capacity and further fortify the global competency

Seoul, Korea, December 8, 2021 – Global leading tire company Hankook Tire & Technology partners with Hapag-Lloyd AG, the world’s fifth largest liner shipping company, to strengthen its logistics capabilities. Hapag-Lloyd AG is a Germany-based company established in 1847 that provides liner services between all continents and operates 257 modern ships.

Ocean freight is in the midst of a predicament. The global shortage of shipping containers, primarily caused by the COVID-19 pandemic, has led to continued port congestion and freight prices at all-time highs. Pulling through the difficult times, Hankook signed a long-term contract with Hapag-Lloyd. It adds significance as it’s made upon close partnership between Hankook and the German shipping company over 20 years now.

The signing ceremony took place at Hankook Tire headquarters Technoplex on December 7. The agreement was signed in presence of Sooil Lee, CEO of Hankook Tire & Technology, Jongho Park, Chief Administrative Officer of Hankook Tire & Technology, Hans Schaefer, President of Hapag-Lloyd Asia Regional Headquarters, and Minkyu Choi, President of Hapag-Lloyd Korea.

Under the agreement, Hapag-Lloyd will provide a stable supply of shipping containers as well as sustainable logistics services from 2022 to 2024. Hapag-Lloyd is also an environmentally-oriented company that seeks to conserve global resources and protect the environment which is in line with Hankook’s dedication to sustainability.

“We are delighted to partner with Hapag-Lloyd in this long-term agreement that will help enhance Hankook’s export capacity and stabilize our global supply chain amid a volatile environment,” says Sooil Lee, President and CEO of Hankook Tire & Technology. “We believe this strategic cooperation will ensure a resilient ecosystem which will further fortify our global competency especially in times of uncertainty.”

Currently operating in over 180 countries, Hankook Tire will continue to grow the business by quickly adapting to fast-changing market and driving both quantitative and qualitative growth.