KUMHO TIRE CO.,INC.
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Kumho Tire Co. Ltd. is a Korean-based, publicly quoted company principally engaged in the manufacture of automotive tires. The company was established in 1960 and has its registered head office in Gwangju, Republic of Korea.
Kumho Tire’s offers a wide variety of tires including tires for sports utility vehicles, tires for passenger cars, tires for various sizes of trucks and buses, racing tires, snow tires, as well as aircraft tires. In addition, the company also provides batteries for automobiles.
Kumho Tire operates seven manufacturing plants: three in Korea, three in China, and one in Vietnam. It has seven overseas subsidiaries situated in international areas such as Australia, Canada, China, Germany, Japan, the United Kingdom and the United States. In addition, it has branch offices within these locations.
Kumho Tire is considered as one of the largest tire manufacturer in the world. It is part of the Kumho Asiana Group, a group of diverse companies involved in various business sectors including chemical, circulation, transportation, construction and industrial manufacturing. As of December 2007, the company established Kumho Tire France, which become its wholly owned subsidiary.
Sales increased with export sales of products to Vietnam reflected from 2nd quarter in addition to sales in China. Operating income increased with prices favorably influenced by reduced production of less efficient factories though sales volume decreased. Net loss continues with depreciation for extension of overseas factories while currency exchange loss increased as 80~90% of Euro receipts were placed under futures contract. Operating income will improve as the company plans to increase sales of high margin goods of 300 billion won in the preceding year to 400 to 450 billion. Expenses will increase with rising natural rubber prices, rising electricity rate and production disruption by labor strike, but will be offset by price increase. Cash flow will continue to degrade as net liability will increase for payment of retirement allowances while overseas investments will continue.
Description and history
Engaged in the manufacture of automotive tires
DAEWOO ENGINEERING & CONSTRUCTION CO.,LTD.
The Korea Development Bank
US SIC Code
KUMHO TIRE CO.,555, SOCHON-DONG
GWANGSAN-GU, GWANGJU 506-711
City province or state postal code
Country address: KOREA REPUBLIC OF
Website url: www.kumhotire.co.kr