SEOUL, Jan 28 (Reuters) - Global tyre maker Michelin said on Tuesday it would buy a 10-percent stake in South Korea's Hankook Tire for a strategic alliance.
Top executives of the two companies signed a partnership agreement in Seoul on Tuesday, Michelin said in a statement.
"This agreement allows the two companies to exploit synergies in a search for common opportunities to develop their respective positions in the tyre market," the statement said.