Hankook & Co. buys autonomous driving tech startup 3Secondz

Hankook & Company Co., a South Korean holding company that owns tire and mobility businesses, said on Tuesday that it has acquired the autonomous driving technology division of 3Secondz, a startup that specializes in driving data.

The deal is part of Hankook & Co.'s efforts to expand its presence in the emerging field of artificial intelligence and mobility, as it seeks to diversify its revenue sources beyond tires.

3Secondz, founded in 2016 by a graduate of the Korea Advanced Institute of Science and Technology, develops personalized autonomous driving technology based on advanced driving data. Hankook & Co. partnered with 3Secondz in 2020 and used its test vehicle control system and unmanned test solution to automate driving tests at its tire test track.

Hankook & Co. said that applying autonomous driving technology to driving tests can collect more driving data without drivers, which is beneficial for tire and vehicle development. It also expects that the data collection and analysis capabilities acquired through the deal will help it discover new business opportunities in the future.

The personnel in charge of autonomous driving technology development at 3Secondz will join Hankook & Co. after the acquisition is completed.

"The acquisition will help Hankook lead the artificial intelligence-related technology in the mobility field," said Kim Sung-jin, chief digital officer and head of the digital strategy office at Hankook & Company. He also said that he expects to create strong synergies in various business areas in the future. 

Write to Hyung-kyu Kim at khk@hankyung.com