Kumho Tire

Kumho Tire Co., Inc.
Public
Traded as 073240:KS
LSE: KHTC[1]
Industry Automotive, aerospace[1]
Founded 1960[1]
Founder Park In-chon
Headquarters Gwangju, South Korea
Area served
 Worldwide
Key people
 Kim Chang-Kyu (President & CEO)
Park Sam-Koo (Chairman)
Products Tires[1]
Revenue Increase US$ 3.57  billion (2013)[2]
Increase US$ 104.87  million (2013) [2]
Number of employees
 5,010 (2013)[2]
Parent Kumho Asiana Group
Website http://www.kumhotire.com/
Kumho Tire
Hangul 금호타이어
Hanja 錦湖타이어
Revised Romanization Geumho Taieo
McCune–Reischauer Kǔmho T'aiŏ

Kumho Tire Co., Inc. LSE: KHTC, formerly known as Samyang Tire, is a South Korean tire company. Headquartered in Gwangju, South Korea, it is a subsidiary of the Kumho Asiana Group, along with Asiana Airlines, South Korea's second largest airline.

Etymology

Kumho means "bright lake" in the Korean language. In the European Union, Kumho Tire is known as Kumho Tyre.

Operations

An industrial conglomerate chaebol, Kumho Tire manufactures a full range of tire under the Kumho and Marshal brands.

Kumho Tire runs three manufacturing facilities in South Korea: the Pyeongtaek Plant, the Gokseong Plant and the Gwangju Plant which includes the Kumho Research and Development center mentioned below. There are a further three plants in China: the Tianjin Plant, the Gaoxin Plant (in Nanjing) and the Changchun Plant. There is also one plant in Vietnam in the Binh Duong Province.[3]

Kumho Tire exports tires worldwide and has a global network of sales organizations.

It has three centers for research and development, with the largest in Gwangju, South Korea. The other two centers are in Akron, Ohio and Birmingham, England. These service the US and European tire markets respectively. Other research centers are located in Buchholz (Germany) and Tianjin (China).

Kumho Tyre (UK) Ltd (a subsidiary of Kumho Tire Co., Inc.) was created in 1977. Administrative functions are based in Sutton, Surrey and the marketing department is operated from Birmingham.

in 2011, China Central Television (CCTV) disclosed that, there were serious irregularities in the tire production process of Kumho tire. It reuses a lot of mixing in the production process, is not in accordance with its standard to produce. March 21, 2011 afternoon, the president of Kumho Tire (Kim Jong-ho), and president of Kumho Tire China (Li Hanxie) released the official statement of apology through CCTV, and announced the recall of all the illegal products.[4]

Sponsorships

In 2007, Kumho became a Platinum Partner of the Manchester United Football club. The company is classed as an Official Club Sponsor. In partnership with Manchester United, Kumho launched a "Play Safer"[5] campaign designed to increase youth road safety awareness.[6]

The company also sponsors other motoring events such as European Formula 3 racing.[7]

On February 13, 2014, Darren Rovell of ESPN announced on his Twitter page that Kumho was named the official tire of the NBA.

Kumho Tire is one of the sponsors of the La Liga.

Associates

Daehan Tire since 1991.

See also

References

  1. 1 2 3 4 "Company Profile for Kumho Tire Co Inc (073240)". Bloomberg. Retrieved 26 September 2012.
  2. 1 2 3 http://www.markets.ft.com/research/Markets/Tearsheets/Business-profile?s=A073240:KSC
  3. ↑ http://www.kumhotire.com/company/info/info_position02.jsp
  4. ↑ http://finance.qq.com/a/20110321/006013.htm?pgv_ref=aio
  5. ↑ http://www.blackcircles.com/news/2010/may/kumho-tyres-and-man-utd-team-up-to-help-children-cross-the-road
  6. ↑ http://www.thedrum.co.uk/news/2010/05/04/13712-manchester-united-kumho-tyres-and-the-foundry-help-kids-cross-better/
  7. ↑ http://www.kumhotyre.co.uk/motorsport.php

External links

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