Kumho Tire

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Kumho Tire Co., Inc.
Public
Traded as 073240:KS
LSEKHTC[1]
Industry Automotive, aerospace[1]
Founded 1960; 58 years ago (1960) (as Samyang Tire)[1]
Founder Park In-chon
Headquarters Gwangju, South Korea
Area served
Worldwide
Key people
Kim Jong-ho (President & CEO)
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]
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. LSEKHTC, 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[edit]

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

Operations[edit]

Automobile tire Kumho Ecsta HS51 205/55 R 16 (2017)

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 and one plant in the United States (Macon, Georgia).[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.

On 15 March 2011, China Central Television (CCTV) reported that there were serious irregularities in the tire production process of Kumho tires. It reported that Kumho used excessive amounts of recycled rubber as raw materials to reduce costs, which could lead to the sidewall of tires to bulge and potentially rupture.[4][5] Soon after the program was aired, Kumho Tires released a statement denying the claims. It explained that the proportion of recycled rubber should be calculated by weight, not by quantity, and that 'it was inaccurate to rely on video footage to determine the quality of tires'.[6] On 21 March 2011, the president of Kumho Tire (Kim Jong-ho), and the president of Kumho Tire China (Li Hanxie) released an official statement of apology through CCTV, and issued a recall of all the affected products.[7]

On Jan. 18, 2017, Kumho Tire awarded a Chinese company called Double Star the right to sell its products first.[8]

Sponsorships[edit]

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"[9] campaign designed to increase youth road safety awareness.[10]

The company also sponsors other motoring events such as European Formula 3 racing.[11]

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[edit]

Daehan Tire since 1991.

See also[edit]

References[edit]

  1. ^ a b c d "Company Profile for Kumho Tire Co Inc (073240)". Bloomberg. Retrieved 26 September 2012.
  2. ^ a b c http://www.markets.ft.com/research/Markets/Tearsheets/Business-profile?s=A073240:KSC[permanent dead link]
  3. ^ "Archived copy". Archived from the original on 2010-09-08. Retrieved 2010-08-25.
  4. ^ "Kumho in drama over 'defects'- Economy- China Daily Asia". www.chinadailyasia.com. Retrieved 3 June 2017.
  5. ^ "Kumho Tires Recalls Products in China". english.cri.cn. Retrieved 3 June 2017.
  6. ^ "Kumho Denies Chinese Media Claims on Recycled Rubber - Tire Review Magazine". Tire Review Magazine. 17 March 2011. Retrieved 3 June 2017.
  7. ^ "锦湖轮胎全球总裁道歉 宣布召回所有违规产品_财经_腾讯网". finance.qq.com.
  8. ^ "Kumho Tires Selling".
  9. ^ "Tyre News - Tyres and Industry Comment". Tyre News.
  10. ^ "Archived copy". Archived from the original on 2010-07-06. Retrieved 2010-08-25.
  11. ^ "Archived copy". Archived from the original on 2011-01-30. Retrieved 2010-08-25.

External links[edit]