Hankook signs sponsorship contract with Real Madrid FC.
Hankook Tire has signed a sponsorship contract with Real Madrid in order to boost its brand value by means of an aggressive investment.
At present, the tire manufacturer is striving to catch up with industry leaders such as Michelin and Bridgestone by, for example, supplying original equipment tires for the BMW 7 Series sedan.
The European market is where the largest portion of Hankook Tire’s sales comes from. Specifically, the market accounts for approximately 30% of its sales revenue. Last year, the company expanded its manufacturing facilities located in Hungary, which produce tyres for supply to the market.
The sponsorship contract was led by Hankook Tire president Cho Hyun-bum himself, who is well known as a big sports fan deeply interested in sports marketing. His company is currently engaged in a variety of sports marketing programs abroad. For instance, it has supplied tyres for the Deutsche Tourenwagen Masters (DTM) and been an official sponsor of the UEFA Champions League since 2012. The DTM, which in English translates to German Touring Car Masters, is one of the largest motorsports events in Germany in which all of Mercedes Benz, BMW and Audi take part.