Hankook Tire Posts Profitable 1Q Results Despite Industry Global Slowdown

• 2009 first quarter revenues of KRW 1.135 trillion, a 13.8% increase from 1Q 2008
• Operating profits of KRW 35.3 billion in 2009 1Q increases over 2008 4Q
• Effective cost management and expenditure lead Hankook to operating profits
• Exports to North America and Europe increase over 2008 4Q

SEOUL, KOREA, 04 May 2009 - Hankook Tire, the seventh-largest and one of the fastest growing tire manufacturers in the world*, today announced their 2009 1Q earnings results. While the market has continued to remain challenging, Hankook Tire has recovered from negative territory from the last quarter posting operating profits of KRW 35.3 billion, as well as a 13.8% increase in sales to KRW 1.1346 trillion from a year earlier. Amidst the current economic situation, Hankook Tire is showing a return in profits with effective cost management and initial signs of a reviving market. Exports from Korea rose 7.3% YoY, with export demand showing a 19.9% increase to North America and 8.9% to Europe from a year earlier. As the main production facility for the European market, the Hankook Hungary plant has seen significant growth in sales of 24.7% from 2008 4Q and an 87.0% increase from a year earlier. Mr. Seung Hwa Suh, Global CEO of Hankook Tire said, “With effective cost and expenditure management and smart marketing activities, Hankook Tire continues to strive for growth in 2009 despite the economic climate. The company is at a strong position to continue building on its already strong reputation this year, and we will continue to highlight our commitment to technology and excellence to sustain success in emerging markets, as well as continue to challenge other more established markets. We are particularly proud of the growth the Hungary plant has made since the start of production in 2007, and also see that it is adapting itself to the European market smoothly.” Mr. Suh continued, “The tire industry is extremely competitive and it is essential that we continue to effectively manage costs, while balancing investments to ensure sustained future growth. Amidst the economic situation, I continue to look forward to what lies ahead this year, particularly with the balance sheets in black this quarter.” Hankook Tire remains positive about further growth prospects for 2009. The company is aggressively targeting global sales in 2009 approaching approximately KRW 4.33 trillion. This target reflects the continuous efforts of Hankook Tire to maintain investment in technology, brand reputation, and on-going support of consumer needs amidst the ever changing economic forecasts for 2009.

2009 Consolidated Revenue (KRW)