Saudi media delegation tours Hankook Tire’s research and development center in South Korea

Updated 02 August 2017

Saudi media delegation tours Hankook Tire’s research and development center in South Korea

A Saudi media delegation recently paid a visit to Hankook Tire’s new research and development center — Hankook Technodome — in Daejeon, South Korea.
They were invited by Hankook Tire and Bin Shihon Group, the exclusive distributor for Hankook Tire in Saudi Arabia.
A press conference was held at Hankook Technodome, where Hankook senior officials gave a briefing regarding the company’s latest tire production technologies and strategic globalization. The vice presidents of global marketing strategy division of Hankook tire and research and development planning department made a presentation about research and development investment and Mideast sales marketing strategy.
Marwan bin Shihon, vice president of Bin Shihon Group, said: “The long-lasting and beneficial cooperation between us and Hankook Tire and the strategic partnership has been confirmed through this visit of the Saudi media delegation. The visit is an occasion for the Saudi media and press to emphasize the importance of this relationship. Visiting Technodome is very important for us as it would reflect positively on our business and clients in Saudi Arabia.”
Seung Hwa Suh, vice chairman and CEO of Hankook Tire, said: “Hankook Tire and Bin-Shihon Group is beyond partnership, we are a family now. We believe this visit will help in portraying our global leadership in Saudi Arabia.”
The company said Hankook Technodome represents its commitment in research and development innovation, and will act as a core instrument of the company’s global research and development infrastructure. At the high-tech facility providing optimized research environment, Hankook Tire plans to focus on securing original technology for the future of Hankook Tire’s mid-long-term research and development plans, and to lead the latest tire technology. The new research and development center will also play a pivotal role in implementing Hankook Tire’s proactive corporate culture by innovating the working process, and continuously strengthening the company’s research and development capability.
At the Hankook Technodome, Hankook Tire will showcase future technology integrating eco-friendly material, new material development, and simulation technology as well as networking technology.
“Hankook Technodome is equipped with the high-tech facilities and the optimal work environment to strengthen our global competitiveness through innovation, while actively dealing with rapid changes in the business environment and delivering products optimized for various customers’ needs,” the company said in a statement.

LuLu Group announces SAR1 billion expansion plans

Updated 14 October 2019

LuLu Group announces SAR1 billion expansion plans

  • Group also launched SAR1 million 10th anniversary promotion

RIYADH: LuLu Hypermarkets, one of the largest retailers in the region, is upbeat about the investment climate of KSA and is planning to expand in the coming years.

Talking to media during the group’s 10th anniversary celebrations held at Atayaf Mall in Riyadh, chairman M. A. Yusuff Ali unveiled LuLu Group’s plans.

Saad Al-Gamdi, Head of Saudization Programme (Tawteen) at the Ministry of Labour, along with Yusuf Ali, Chairman of LuLu Group, officially inaugurated the anniversary celebrations in the presence of senior officials and a large number of shoppers. 

Elaborating on LuLu Group’s journey so far, Yusuf Ali said: “With a modest beginning in the 2009, today we have 17 hypermarkets, 12 Aramco commissaries and National Guard supermarkets which is a testimony to our acceptance in the country, thanks to our fair pricing and highest quality product range.

“We see tremendous growth opportunity in the Kingdom. We have already announced that by year 2020, we will open 15 new hypermarkets in Saudi Arabia. Under this plan, 3 hypermarkets have already been opened and another 11 hypermarkets will be completed before end of 2020 at an investment of SAR1 billion ($266.6 million).

“This includes 4 in Dammam, 6 in Jeddah and 1 in Riyadh. This is apart from the SR1.7 billion that we have already invested in the Kingdom until now.”

During the occasion, LuLu also honored 10 long serving Saudi nationals with gold medals and certificates who were all part of LuLu’s growth story in the Kingdom.

Congratulating the Saudi staff, Yusuf Ali said: “We consider it our duty to nurture them as we have a very hardworking, dedicated and productive manpower among Saudi nationals.

“LuLu Group currently employs 2,700 Saudi nationals including 700 women in their various hypermarkets across the Kingdom. Out of the total Saudi work force employed in our group, half of them are from small town like Hail, Tabuk, Hassa and Jubail.

“Our goal is to give employment to more than 4,000 nationals by the end of 2020 out of which 1,700 will be women,

He added that his group gives priority in generating jobs for young Saudis, especially women. “I think it is the duty of all businessmen and investors to create more jobs for local youth.

“We also take this opportunity to extend our gratitude to King Salman, Crown Prince Mohammed Bin Salman and the government who have always given tremendous support to investments and economic development which ultimately generate more employment opportunities for Saudi citizens.”

To mark the occasion of 10th anniversary, LuLu announced the launch of LuLu-Win One Million Riyal promotion which will run for 10 weeks and 10 lucky winners will each get SAR100,000 cash prize.