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, July 7 (Korea Bizwire) – Creditors of Kumho Tire Co. on Friday decided to offer final concessions to resolve a dispute surrounding the usage fee of the Kumho brand between the tiremaker’s parent company and China’s Qingdao Doublestar Co. The concessions came after a meeting earlier in the day with Kumho Tire’s creditors, which [...]
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 [...]
SEOUL, March 13 (Korea Bizwire) – The chief of logistics conglomerate Kumho Asiana Group claimed on Monday that creditors of the group’s tire-making affiliate should allow him to set up a consortium to buy Kumho Tire Co. back. Kumho Tire was placed under a creditor-led workout program in 2009, after its parent company Kumho Asiana [...]
SEOUL, Jan. 17 (Korea Bizwire) – The chief of Kumho Asiana Group, parent of Asiana Airlines Co., said Tuesday that he will exercise his right to buy back a tire-making unit from its creditors currently up for sale. The creditors of Kumho Tire Co., led by the state-run Korea Development Bank, are set to announce [...]
SEOUL, Korea, Jan 14 (Korea Bizwire) – There are more cars in the market with tires that keep running even after they are punctured. Such tires are divided into two types: run-flat tires and sealant tires. Run-flat tires have self-supporting rubber strips in the side walls of the tire, which enables the vehicle to continue to be [...]