Michelin Buys More Hankook Shares (Akron/Tire Review) Exercising its option, Groupe Michelin bought two million shares in Hankook Tire Co., increasing its ownership position to 6.3%. Advertisement ByTire Review Staff on March 20, 2006 The purchase was announced late last week.Advertisement Michelin has held a 5% share in the South Korean tiremaker since 2003, and could buy up to 10% in Hankook. Michelin paid $26 million for the new shares, which were issued by Hankook on Mar. 17. Advertisement In this article: Click to comment Sponsored Content: Why Electric Vehicle Drivers Need Tires Made for EVs News: Michelin Launches MEMS Lite Solution News: Fountain Tire Unleashes New Advertising Platform Business Operations: Eight Great Practices for Creating a Winning Team Culture Advertisement WEBINARS Watch a webinar for free on-demand! PODCASTS Listen to the latest episode on "What's Treading". SUBSCRIBE Get the latest news in Tire Review World Tire Report.