Hankook Tire signs MOU with UB1st, a leading fleet management service company

• Collaborating with UB1st, a company operating more than 100,000 units with its fleet management
• Enhancing tire technology and solution development ability through fleet management service data
• Leading innovative service by combining strengths of the two top tier mobility companies

Seoul, Korea, Apr 17, 2020 – Leading global tire maker Hankook Tire signed a memorandum of understanding (MOU) on April 16 with UB1st, a leading Korean fleet management service provider.

UB1st, a leader in the domestic fleet management market, operates various types of vehicle management services, including 'UbiKhan', a telematics service with 100,000 registered vehicles (including commercial vehicles and passenger cars).

Hankook Tire plans to expand its vehicle management service using big data through cooperation with UB1st and enhance ability to develop tire technology and fleet service by utilizing real-time vehicle data.

The cooperative relationship between the two companies is focused on creating a new type of fleet management service by combining Hankook Tire's offline service capabilities such as Korea's largest commercial tire store, TBX, and vehicle data collected by UB1st's platforms such as UbiKhan.

Hankook Tire is expected to launch a premium tire management service targeting UbiKhan users among TBX's customers in the second half of the year. It will also join hands so that customers visiting Hankook Tire's commercial vehicles and passenger car sales channels can meet UB1st's vehicle accessories such as UbiKhan, black boxes, ADAS (Advanced Driver Assistance System) and DTG (digital tachograph).

In addition, the two parties are discussing new services and distribution methods by combining the strengths of the two companies leading the tire and fleet management industry. The synergy between the two companies will lead to development of differentiated service and distribution capabilities from other tire manufacturers and fleet management companies.

Hosung Suh, Hankook Tire Senior Vice President and Chief Strategy & Marketing Officer said, “Hankook and UB1st have been very committed to this partnership. This will be another step Hankook will be taking toward its digital transformation to lead the industry as an innovative player.”