First and foremost, I would like to thank you for your hard work and dedication during the year 2022. As you all know, the past year has seen a more challenging business environment than ever before. There have been a number of BMW quality issues and production performance has been slightly below business plan. Steep increases in production costs, especially energy costs, have curbed all management activities, and high inflation has caused much inconvenience to our employees and their families.
Now, in 2023, we are starting a new year again. Although a difficult environment, such as high prices and rising production costs, is expected to persist this year, the start in 2023 is very hopeful. We have responded well to quality issues and production/delivery performance is better than expected. In addition, the status of our products for electric-only vehicles in the market continues to rise. The iON product line, launched last year, is doing very well and our product offering also includes electric vehicles from Audi and BMW. In addition, as the exclusive technology partner of Formula E, Hankook’s status is expected to continue to rise. I am confident that all these achievements have been made possible by the dedication and passion of all the employees in our Hungarian factory.
We are preparing a lot of actions to make our factory even more energetic this year. Smaller family events, like the HANKOOK Sports Day last autumn, will be held more often, and tickets for the UEFA Europa League Final in Budapest in May will be up for grabs. We will also improve the working environment, such as toilets, rest rooms and offices. And with the newly organized Works Council, we will listen even more to the voice of our employees and work together to make your work a happier place.
There is a proverb that says: “United we stand, divided we fall”. Although difficulties are expected to continue this year, I am confident that we can overcome them because we are together.
Finally, I would like to thank you for your hard work and wish you a peaceful Easter with your loved ones. Special thanks to those who will continue to work during the holidays. Take care of yourselves, take care of each other!
Best regards!
Kim Hyung Yun
Managing Director