Hankook Lime Rock Media Day notes

Hankook holds media event promoting SCCA Mazdaspeed Miata Cup. LIME ROCK PARK, CT: (May 20, 2003)-- Hankook Tire America Corp. President Mr. J.W. Choi and several Hankook representatives held an informal media presentation today as part of SCCA...

Hankook holds media event promoting SCCA Mazdaspeed Miata Cup.

LIME ROCK PARK, CT: (May 20, 2003)-- Hankook Tire America Corp. President Mr. J.W. Choi and several Hankook representatives held an informal media presentation today as part of SCCA / Lime Rock Park Media Day, and to promote Hankook's growing involvement in motorsport activities. Jack Kim, Hankook General Manager, Young Moon Park, Marketing Manager, Bill Bainbridge, Marketing Director, Doug Reed, Motorsport Manager, and Dave Martin of Motorsport Engineering at Hankook's Akron Technical Center, joined Mr. Choi in the presentation.

The Hankook management team explained how the Company has become the tenth-largest tire manufacturer in the world, with sales success in 200 countries and six continents. They cited the fact that Hankook reinvests 5% of its total annual sales in Research and Development -- significantly more than most major manufacturers. Hankook operates R&D facilities in Korea, Europe and the U.S. The commitment to research was noted as one of the principal reasons Hankook is gaining ground in a market that is flat overall. In fact, business at Hankook was up 15% in 2002 compared to 2001, while competitors struggled to match their sales of the previous year.

Members of the media were given rides around famous Lime Rock Park Raceway, allowing them to experience the handling and grip of Hankook's new Ventus Z211 R-Compound Racing Tire, the official spec tire for Mazda Miata Cup Presented by Hankook Tire Race Series.

Quality. Value. Performance. These are the keystones of Hankook's success, and the Company remains committed to these goals worldwide. Market Driven Management is how they make it happen. Understanding the needs of the market, and delivering the right product at the right time and at the right price are the objectives.

While Hankook has a history of motorsport efforts overseas, this is the first year that the Company is involved in U.S. motorsport activities. (See attached PDF file for a complete look at Hankook's Motorsport Program.) Hankook's commitment to the motorsport arena is reaping rewards throughout the Company as a whole, as feedback from products developed for the track is instrumental in developing tires for Hankook's passenger, light truck and medium truck sectors.

Memorial Day weekend at Like Rock Park will feature the running of the 4th motorsport event in this year's SCCA professional racing series, sponsored by Hankook Tire.

-hankook-

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