Seoul: Hankook Tire and Technology Co., South Korea's leading tiremaker, announced a significant increase in its net income for the fourth quarter, driven by robust sales of premium tire products.

According to Yonhap News Agency, Hankook Tire's net profit for the October-December period reached 107.5 billion won (US$74.1 million), marking a 73.7 percent increase from 61.9 billion won in the same period the previous year. The company's operating profit also saw a rise, increasing by 15.9 percent year-on-year to 548.3 billion won, while sales surged by 115.5 percent to 5.45 trillion won.

Despite these impressive figures, the earnings did not meet market predictions, with analysts having estimated a net profit of 312.5 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.

For the entire year of 2025, Hankook Tire reported an operating profit of 1.84 trillion won, reflecting a 4.6 percent increase from the previous year. Annual sales soared by 125.3 percent year-on-year, reaching 21.21 trillion won. However, net profit for the year dropped by 12.6 percent to 988.1 billion won.

The company credited its performance to stable growth in both the global original equipment and replacement tire markets, coupled with higher sales of premium products, including those designed for electric vehicles (EVs).

Looking forward, Hankook Tire plans to continue its sales growth trajectory in 2026 by expanding production capacity at its facilities in the United States and Hungary. Additionally, the company aims to increase the share of tires supplied to premium automakers, such as Porsche and BMW.