Hankook Tire was established in 1941 in Seoul, Korea, and started manufacturing tires in 1942 with just 110,000 tires a year. Presently Hankook Tire is producing 50 million tires a year. In 1962, Hankook made Korean history when they began exporting car tires for the first time. By 1974, Hankook developed their first Korean Radial Passenger Tire. Continued growth in foreign trade helped the company exceed the $100 million level in 1980. In 1981, Hankook Tire opened its first sales branch in the United States, and continued to grow to what it is today with branches in 16 countries.