Cho Hyun-bum, chairman of Hankook & Company, noted that the Donald Trump administration is monitoring whether high tariffs will be imposed on automotive parts.
On the 6th, Cho met with reporters at the Pie Factory Studio in the Gwangjin District of Seoul and said, "The situation is unclear regarding whether tariffs will be applied to automotive parts, so we are closely watching the (U.S.) Department of Commerce."
Cho also explained the management plan for Hanon Systems, an automotive thermal management systems corporation acquired earlier this year. He described, "We need to change the financial structure to generate cash flow, but we have reached an unintended situation known as a (electric vehicle) chasm (a temporary demand stagnation)."
He further stated, "We need to adjust the customer and then reduce the expense. I think factory restructuring might also need to be done abroad."
On this day, Cho separately met with Stephan Winkelmann, chairman of Lamborghini, at the Pie Factory Studio where the domestic launch event for the Temeraire was held.
It was reported that Cho and Winkelmann discussed the supply of original equipment (OE) tires for new cars, sales of replacement tires, strengthening motorsport sponsorship, and expanding marketing cooperation.
Cho explained, "Rather than discussing specific projects, we aim to first establish a relationship and explore potential collaboration at the working level in the future."
Regarding the possibility of cooperation between Hanon Systems and Lamborghini, he said, "Since we are collaborating with the Volkswagen Group, there seems to be a possibility for Lamborghini as well. I think the use of Hanon Systems by Rolls-Royce could also be considered."
He added, "Since it's only been a few months since the acquisition, we are still in the planning stage, but there are some expensive factories in Europe."
When asked, "Can it be seen as an asset sale?" Cho replied, "There is a possibility." He also mentioned that there might be a possibility of reducing personnel.
Regarding the synergy effect between Hankook Tire and Hanon Systems, he responded, "Electric vehicles are a segment where thermal management is becoming significant, so it can be seen as targeting customers together."