Hankook Tire to Exclusively Supply Racing America with Tires for Five Years

[Financial News] Hankook Tire & Technology will exclusively supply tires to major U.S. racing series for five years, expanding its presence in the North American motorsports market. Following its existing Formula Racing sponsorship, the company will broaden its sponsorship portfolio to include muscle-car and premium sports-car competitions. Its strategy is to raise awareness of its high-performance tire technology and brand locally by integrating tire supply, technical support, and joint marketing.
Hankook Tire said on the 29th that it signed a partnership agreement with motorsports specialist Racing America at its plant in Tennessee, U.S., on the 25th (local time). The agreement runs from 2027 through 2031, during which Hankook Tire will serve as the official tire partner for major racing series.
Under the agreement, Hankook Tire will newly sponsor Trans Am, a U.S. road-racing competition, and International GT, a premium sports-car racing series. It also renewed its contract with the Formula Racing series, with which it has maintained a partnership since 2019.
Trans Am is a muscle-car-based racing competition launched in 1966. International GT is a series featuring competition among premium sports cars, while the Formula Racing series is operated to develop the next generation of formula drivers.
The partnership covers the exclusive supply of racing tires, as well as technical and engineering support and on-site services. The companies will also pursue joint marketing through event-site branding and digital, broadcast, and social media channels.
Hankook Tire plans to showcase the technological capabilities of its global integrated brand, "Hankook," at major North American racing venues and expand its engagement with local motorsports fans.
Hankook Tire supplies racing tires to and sponsors participating teams in more than 70 motorsports events worldwide, including the World Rally Championship (WRC), organized by the Fédération Internationale de l'Automobile (FIA). In North America, it also sponsors off-road racing events such as King of the Hammers.
[email protected] Kim Dong-ho Reporter