EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 06/08/2024

In electronic form on the EUR-Lex website under document number 32024M11621

EUROPEAN COMMISSION

Brussels, 6.8.2024 C(2024) 5775 final

PUBLIC VERSION

Hankook Tire & Technology Co., Ltd. 286 Bundang-gu, Seongnam-si, Gyeonggi-do (Sampyeong-dong) South Korea

Dear Sir or Madam,

(1) On 12 July 2024, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which Hankook Tire & Technology Co., Ltd. (‘Hankook Tire’, Republic of Korea) will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of Hanon Systems Co., Ltd (‘Hanon Systems’, Republic of Korea) by way of 3purchases of shares and securities. ()

(2) The business activities of the undertakings concerned are the following:

– Hankook Tire is a publicly traded Korean company that is primarily engaged in tyre manufacturing. Hankook Tire produces and sells globally tyres for various types of vehicles, including passenger cars, trucks, buses, and industrial vehicles,

– Hanon Systems is a publicly traded Korean company that is engaged in the business of manufacturing automotive thermal management system components. In particular, Hanon Systems’ core products are heating, ventilation and air conditioning modules.

(3) After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of

1() OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology of the TFEU will be used throughout this decision.

2() OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3() OJ C, C/2024/4677, 22.7.2024.

paragraph 5 (c) of the Commission Notice on a simplified treatment for certain

4concentrations under Council Regulation (EC) No 139/2004. ()

(4) For the reasons set out in the Notice on a simplified treatment, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed) Olivier GUERSENT Director-General

4() OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).

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