Hanon Systems has been acquired by Hankook & Company Group, positioning it as a core asset within a diversified automotive portfolio, aimed at leveraging synergies for growth in advanced climate control technologies.

Information on the Target

Hanon Systems, a leader in automotive climate control solutions, became a subsidiary of Hankook & Company Group in January 2025 after a change in majority ownership. This acquisition positioned Hanon Systems as one of the core segments of Hankook & Company, which also includes tire and battery manufacturing. The move is anticipated to facilitate Hanon Systems’ growth by enabling it to harness synergies within the larger Hankook umbrella, advancing its capabilities in automotive technology.

Hanon Systems, previously known as Halla Visteon Climate Control, has built a strong reputation due to its technological innovations and recognized product quality. Over the years, it has earned numerous accolades, including various awards for its state-of-the-art climate control technologies tailored for vehicles, indicating a solid foundation in the automotive climate sector.

Industry Overview in South Korea

The automotive industry in South Korea is a vital sector of the national economy, characterized by a robust manufacturing ecosystem supported by global automobile giants like Hyundai and Kia. This sector is r