SEOUL, Jul. 24 (Korea Bizwire) — Kumho Asiana Group, a South Korean airline-to-petrochemical conglomerate, looks set to begin the process of selling its airline unit this week as part of broad restructuring efforts, industry sources said Wednesday. “The group is likely to give a public bidding notice on Thursday or Friday to sell its entire [...]
SEOUL, Mar. 28 (Korea Bizwire) — Kumho-Asiana Group said Thursday its chairman will resign from key managerial posts, holding himself responsible for the recent controversy over an audit report for Asiana Airlines Inc. Park Sam-koo will step down as group chairman and CEO of flagship Asiana Airlines and Kumho Industrial Co., the group’s holding company. [...]
SEOUL, Nov. 28 (Korea Bizwire) — The chief of Kumho Asiana Group, an airline-to-construction conglomerate, said Tuesday he won’t buy back the conglomerate’s former tire unit Kumho Tire Co. now controlled by creditor banks. In a press conference held at its headquarters in Seoul, Kumho Asiana Chairman Park Sam-koo made it clear that the group [...]
SEOUL, Aug. 30 (Korea Bizwire) — The chairman of Kumho Asiana Group, parent of Kumho Tire Co., on Wednesday submitted a revised proposal to creditors over the use of the tiremaker’s brand, an industry source said Wednesday. The revised proposal by Kumho Asiana Chairman Park Sam-koo came as the creditors, led by state-run Korea Development [...]
SEOUL, July 13 (Korea Bizwire) – Hundreds of employees of Kumho Tire Co. on Thursday held a rally against plans by creditors to sell the company to China’s Qingdao Doublestar. About 750 workers held separate rallies at the company headquarters in Seoul and an R&D center in Yongin, Gyeonggi Province, demanding creditors led by the [...]
SEOUL, March 29 (Korea Bizwire) – Creditors of Kumho Tire Co. are set to send a notice to the chief of Kumho Asian Group asking him to provide details for a buyback plan for the country’s No. 2 tiremaker, including the formation of a consortium to take over the business, industry sources said Wednesday. The [...]
SEOUL, March 28 (Korea Bizwire) – Creditors of Kumho Tire Co. on Tuesday asked the chief of logistics conglomerate Kumho Asiana Group to present a detailed plan for his buyback of the country’s No. 2 tiremaker, including the formation of a consortium to take over the business. The creditors, led by the state-run Korea Development [...]