HANKOOK APPOINTS NEW PRESIDENT OF HANKOOK TIRE AMERICA CORP.
Soo Il Lee to Direct Hankook Operations in the Americas
H. Y. Pae Returning to Korea to Direct Global Marketing and Supply Chain Activities
WAYNE, N.J., Nov. 11, 2009 - Hankook Tire Co. LTD., the seventh-largest and one of the fastest growing tire companies in the world, has named Soo Il Lee its new President for Hankook Tire America Corp. (HanAm), effective Dec. 1st of this year. In addition to his duties as HanAm president, Mr. Lee will also serve as COO for the company’s business operations throughout the Americas including the overall growth and marketing strategies for the U.S., Canada, Mexico, Central and South America.
Mr. Lee will be replacing H. Y. (Greg) Pae who will be returning to the company’s global headquarters in Seoul, Korea, after spending the last several years as President of HanAm and COO for Hankook’s business units in the Americas. Under Mr. Pae’s leadership, Hankook has enjoyed significant market share and sales growth as evidenced by the recently released third quarter results, which were highlighted by an astounding 26.7% YoY increase in sales for North America.
During Mr. Lee’s 22-year career with Hankook beginning in 1987, he has served the company in a variety of positions including managing Hankook’s business operations in Saudi Arabia (1998 to 2000) and France (2001 to 2003) and as marketing strategy team manager in Korea (2004 to 2006). He was appointed to his current position of Vice President, Marketing Department in December 2006.
Mr. Lee has a Master’s Degree in Business from Michigan State University. He and his family will be relocating from Korea to New Jersey for the position.
Mr. Pae, who transferred to Hankook’s American subsidiary in 2004 and took over the reigns in December 2006 will be returning to Korea to assume the position of Vice President, Marketing Strategy Planning Division for Hankook Tire. He will oversee the company’s global marketing strategy and supply chain management departments, with responsibility for global marketing, product planning, distribution channels, new market development and supply chain management including planning, innovation, and export logistics.
“When I arrived in North America more than six years ago, I came with a passion to succeed,” said Mr. Pae. “I am leaving now with a great deal of pride in the results we have achieved in terms of increasing Hankook brand value, expanding distribution and sales, growing our market share, and managing our business assets. I want to express my sincere appreciation to the dedicated employees and Hankook customers who have helped to shape our success. My experience here has been invaluable and I look forward to the new responsibilities and challenges that await as we press forward in our mission to make Hankook Tire a top five global manufacturer and one of the most respected companies in our industry.”
About Hankook Tire
Wayne, N.J., Hankook Tire America Corp. is a technology-focused, market-driven company that markets and distributes a complete line of high performance and ultra-high performance passenger tires, light truck, SUV tires, as well as medium truck and bus tires to more than 400 independent dealers through 3000+ retail sales locations in the United States and Canada.
For more information, please visit the Hankook website at www.hankooktireusa.com.
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