[News Space=Reporter seungwon lee] Korea's leading tire company, Hankook & Company (formerly Hankook Tire & Technology), has been branded the number one major company for 'late payment' of subcontracting fees for the fourth consecutive time, dealing a serious blow to the credibility of the business community. According to the '2024 Second Half Subcontractor Payment Terms Disclosure Inspection Results' announced by the Fair Trade Commission on July 24, 2025, the Korea & Company Group recorded the highest rate of paying subcontractor payments beyond the statutory payment deadline of
[News Space=Reporter seungwon lee] An unprecedented situation has occurred in which Chairman Jeonggyu Kim of Tire Bank, the number one domestic tire distribution company, and Chairman Hyunbeom Cho of Hankook Tire & Technology, the number one tire manufacturer, were sentenced to three years in prison and detained in court. The mid-sized business of two giant owners representing the Korean tire industry goes beyond simple personal deviations and exposes the problems in the management structure of the Korean tire industry and the true face of systemic risks. Kim Jeong-gyu, Chairman of Tire Ba