Kumho Tire Archives | Be Korea-savvy
Local Gov’t, Enterprise and Educational Authorities Join Hands to Recycle Tires into Toys

Local Gov’t, Enterprise and Educational Authorities Join Hands to Recycle Tires into Toys

GWANGJU, Apr. 16 (Korea Bizwire) — Local governments, businesses and education authorities have joined hands in developing play education for teenagers by recycling old tires. Gwangsan District in the city of Gwangju said that it will sign a business agreement with Kumho Tire Co., South Korea’s second-largest tiremaker, and the Gwangju Educational Research Information Service [...]

Kumho Tire Brand, Management to Remain Intact After Acquisition

Kumho Tire Brand, Management to Remain Intact After Acquisition

SEOUL, April 3 (Korea Bizwire) – Kumho Tire Co., South Korea’s second-biggest tiremaker by sales, said Tuesday it will continue to use its brand name and its management will remain independent after being acquired by China’s Qingdao Doublestar Co. “Doublestar has pledged to allow an independent management team to run Kumho Tire as was the case of the acquisition of Volvo by China’s Geely Automobile Holdings in 2010,” Kumho Tire said in a statement.  “Back then, [...]

Kumho Tire Divided over Sell-Off to China’s Qingdao Doublestar

Kumho Tire Divided over Sell-Off to China’s Qingdao Doublestar

SEOUL, March 19 (Korea Bizwire) — GWANGJU, March 19 (Yonhap) — Unionized workers of Kumho Tire Co. vowed Monday to stage strikes this week as 1,500 white collar employees expressed their support for a plan by creditors to sell the debt-ridden company to a Chinese firm. The move laid bare the growing divisions in South Korea’s second-largest tiremaker over how to resolve the current difficulties stemming from [...]

Kumho Tire Could Survive If Stakeholders Share Pain, KDB Chief Says

Kumho Tire Could Survive If Stakeholders Share Pain, KDB Chief Says

SEOUL, Sept. 20 (Korea Bizwire) - Kumho Tire Co. could survive if stakeholders of the beleaguered tiremaker agree to share the pain, the new head of the tiremaker’s top creditor bank said Wednesday, voicing an upbeat note about the tiremaker going forward. Lee Dong-gull, new governor of the state-run Korea Development Bank (KDB), however, told reporters that it was too early [...]

Hankook Tire Takes 7th Spot in Global Tire Market

Hankook Tire Takes 7th Spot in Global Tire Market

SEOUL, Sept. 20 (Korea Bizwire) – Hankook Tire Co., South Korea’s leading tiremaker, ranked seventh in the global tire market last year in terms of revenue, and its smaller local rival Kumho Tire Co. took 14th, according to an industry report on Wednesday. Hankook Tire logged US$5 billion in sales last year, down 5.9 percent from a year earlier, according to the U.S.-based industry magazine TireBusiness. Its smaller local rival Kumho Tire Co. raked in sales of $2.4 billion last [...]