Kumho Tire

Last updated
Kumho Tire Co., Inc.
Company type Subsidiary
Industry Automotive, aerospace
Founded1960;64 years ago (1960) (as Samyang Tire)
Founder Park In-chon
Headquarters
Gwangju
,
South Korea
Area served
Worldwide
Key people
Il Taik Jung (President & CEO)
ProductsTires
RevenueDecrease2.svg ₩2.55 trillion (2018) [1]
Decrease2.svg ₩78.8 billion (2018) [1]
Increase2.svg ₩182.6 billion (2018) [1]
Number of employees
8,579
Parent Doublestar (2018–present)
Korean name
Hangul
금호타이어
Hanja
錦湖타이어
Revised Romanization Geumho Taieo
McCune–Reischauer Kŭmho T'aiŏ
Website http://www.kumhotire.com/
Kumho Tire's wordmark from 2006 to 2023; Kumho Asiana Group's red "Wing" symbol was removed from the logo after the company was sold to Doublestar Kumho Tire wordmark (2006).svg
Kumho Tire's wordmark from 2006 to 2023; Kumho Asiana Group's red "Wing" symbol was removed from the logo after the company was sold to Doublestar

Kumho Tire (formerly known as Samyang Tire) is a South Korean tire manufacturer. It is a subsidiary of Chinese tire conglomerate Doublestar . [2] Kumho Tire was previously operated as a business unit of the Kumho Asiana Group.

Contents

Operations

Automobile tire Kumho Ecsta HS51 205/55 R 16 (2017) 2017-09-19 (366) Kumho Ecsta HS51 205-55 R 16 tire at Bahnhof Melk.jpg
Automobile tire Kumho Ecsta HS51 205/55 R 16 (2017)

An industrial conglomerate chaebol, Kumho Tire manufactures a full range of budget tires under the Kumho, Marshal & Zetum 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.

In December 2009, Kumho Tire was placed under debt workout, after its parent company Kumho Asiana Group was hit by a liquidity crunch from the takeover of Daewoo E&C. [4]

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 in the Tianjin factory (DOT Code C0/1C0) to reduce costs, which could lead to the sidewall of tires to bulge and potentially rupture . [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 (II Talk Jung), 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]

In July 2018, a Chinese company Doublestar finalized a deal to acquire Kumho Tire Co., Ltd. from Kumho Asiana Group in a $607 million deal, giving to Doublestar a 45 percent stake and control of South Korea's second-largest tire manufacturer. [8]

Illegal union-busting

In May 2019, following a complaint filed by the United Steelworkers in November 2017, an administrative law judge with the National Labor Relations Board (NLRB) found that Kumho Tire had engaged in "pervasive" illegal conduct during a unionization campaign at the company's tire manufacturing plant in Macon, Georgia, with at least 12 managers including the company’s CEO issuing illegal threats to lay off employees or to close the plant if it unionized, as well as illegally interrogating employees and creating an impression of surveillance. [9] [10] The company was subsequently required by the NLRB to read a notice to all of its workers at the plant outlining the ways in which the company had violated their rights. [9]

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" campaign designed to increase youth road safety awareness. [11]

The company also sponsors other motoring events such as European Formula 3 racing. [12]

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

Related Research Articles

<span class="mw-page-title-main">Pirelli</span> Italian multinational tyre manufacturer

Pirelli & C. S.p.A. is an Italian multinational tyre manufacturer based in the city of Milan, Italy. The company, which has been listed on the Borsa Italiana since 1922, is the 6th-largest tyre manufacturer, and is focused on the consumer production of tyres for cars, motorcycles and bicycles. It is present in Europe, the Asia-Pacific, Latin America, North America, and the post-Soviet states, operating commercially in over 160 countries. It has 19 manufacturing sites, across 13 countries, and a network of around 14,600 distributors and retailers. In 2015, China National Chemical Corp. Ltd. (ChemChina) took controlling interest of Pirelli; with the Chinese state-owned company agreeing to maintain the tyre company's ownership structure until 2023.

Asiana Airlines Inc. is a South Korean airline headquartered in Seoul. In 2019, it accounted for 25% of South Korea's international aviation market and 20% of its domestic market. It maintains its international hub at Incheon International Airport in Seoul and Gimhae International Airport in Busan, and its domestic hub at Gimpo International Airport in Seoul. It is a full-service airline and a member of Star Alliance.

Cooper Tire & Rubber Company is an American company that specializes in the design, manufacture, marketing, and sales of replacement automobile and truck tires, and has subsidiaries that specialize in medium truck, motorcycle, and racing tires. With headquarters in Findlay, Ohio, Cooper Tire has 60 manufacturing, sales, distribution, technical, and design facilities within its worldwide family of subsidiary companies, including the UK-based Avon Tyres brand, which produces tires for motorcycles, road cars, and race cars.

<span class="mw-page-title-main">Dunlop Tyres</span> International tyre brand

Dunlop Tyres is a brand of tyres which is managed by different companies around the world. It was founded by pneumatic tyre pioneer John Boyd Dunlop in Belfast, Ireland, in 1888.

<span class="mw-page-title-main">MRF (company)</span> India based tyre manufacturing company

MRF or MRF Tyres, is an Indian multinational tyre manufacturing company and the largest manufacturer of tyres in India. It is headquartered in Chennai, Tamil Nadu, India. The word MRF comes from the company's initial days when it was called as Madras Rubber Factory. The company manufactures rubber products including tyres, treads, tubes and conveyor belts, paints and toys. MRF also runs the MRF Pace Foundation, Chennai and MIDD – MRF Institute of Driver Development in Chennai. MRF Limited has emerged as the world's second-strongest tyre maker, with a AAA− brand grade.

Hankook Tire & Technology Co., Ltd., also known simply as Hankook, is a South Korean tire company based in Seoul. It is the seventh largest tire company in the world. It is a part of Hankook & Company.

<span class="mw-page-title-main">Nexen Tire</span> South Korean tire manufacturer

Nexen Tire Corporation is a tire manufacturer headquartered in Yangsan, South Gyeongsang Province and Seoul in South Korea. It was established in 1942 under the name Heung-A Tire Company.

Nokian Tyres plc, headquartered in Nokia, Finland, produces tyres for cars, trucks, buses, and heavy-duty equipment. Known for its winter tyres, Nokian is the only tyre manufacturer in the world with its own permanent winter tyre testing facility. The company's Hakkapeliitta brand name is recognised in Finland as a trademark.

<span class="mw-page-title-main">Sumitomo Rubber Industries</span> Japanese tire and rubber company

Sumitomo Rubber Industries, Ltd. is a global tire and rubber company based in Japan. It is part of the Sumitomo Group. The company makes a wide range of rubber based products, including automobile tires, golf balls and tennis balls. Sumitomo tire brands include Dunlop, Falken and Ohtsu. Sumitomo also manufactures and sells the sport equipments under the Dunlop Sport brand.

Kumho Asiana Group is a large South Korean Chaebol (conglomerate), with subsidiaries in the construction, electronics, IT, leisure, logistics, manufacturing, tourism and transportation sectors. The group is headquartered at the Kumho Asiana Main Tower in Sinmunno 1-ga, Jongno-gu, Seoul, South Korea. As of 2014, the largest shareholder is Park Sam-koo, the third son of the company's founder, who stepped down as CEO in 2010.

Daewoo Engineering & Construction Co., Ltd. is a Korean construction company founded and established in 1973, headquartered in Seoul, South Korea. The previous company name was Daewoo Construction Co, Ltd. Its main constructions in Korea include Wolseong Nuclear Power Plant, Nurimaru, Busan-Geoje Fixed Link. Its major constructions abroad consist of the Swani Hospital Project, Menara Telekom Tower and the Houay Ho Dam in Laos.

HDC Hyundai Development Company was created in 2018 through a spin-off from HDC Group's holding company HDC Holdings. The company is active in real estate development, construction and hospitality.

<span class="mw-page-title-main">Tire recycling</span> Reuse of waste tires

Tire recycling, or rubber recycling, is the process of recycling waste tires that are no longer suitable for use on vehicles due to wear or irreparable damage. These tires are a challenging source of waste, due to the large volume produced, the durability of the tires, and the components in the tire that are ecologically problematic.

Dunlop Ltd. was a British multinational company involved in the manufacture of various natural rubber goods. Its business was founded in 1889 by Harvey du Cros and he involved John Boyd Dunlop who had re-invented and developed the first pneumatic tyre. It was one of the first multinationals, and under du Cros and, after him, under Eric Geddes, grew to be one of the largest British industrial companies. J. B. Dunlop had dropped any ties to it well before his name was used for any part of the business. The business and manufactory was founded in Upper Stephens Street in Dublin. A plaque marks the site, which is now part of the head office of the Irish multinational departments store brand, Dunnes Stores.

<span class="mw-page-title-main">Tokai Carbon</span> Japanese chemicals and materials company

Tokai Carbon Co., Ltd. is a Japanese company. The company is a developer and stockist of graphite material for use in nuclear power, particularly electrical discharge machining electrode, high temperature, and mechanical applications.

<span class="mw-page-title-main">Kumho Asiana Main Tower</span> Office Building in Seoul, South Korea

Kumho Asiana Main Tower is the headquarters of the Kumho Asiana Group, a South Korean conglomerate.

<span class="mw-page-title-main">Kumho Petrochemical</span> South Korean multinational chemical company

Kumho Petrochemical Co., Ltd. is a multinational chemical company based in South Korea, with headquarters in Seoul. It was founded in 1970 when Kumho Group struggled to secure raw materials for its bus and tire businesses. Kumho Petrochemical has a global market leadership in the manufacturing of synthetic rubbers with the world's largest production capacity based on SBR and BR by IISRP 2012. It focuses on synthetic rubbers, synthetic resins, specialty chemicals, electronic chemicals, energy, building materials and advanced materials as its core business.

<span class="mw-page-title-main">Linglong Tire</span> Chinese tire manufacturing enterprise

Shandong Linglong Tire Co., Ltd. is a Chinese tire manufacturing enterprise, which has been among the global top 10 tire enterprises and top five in Mainland China for many years.

<span class="mw-page-title-main">CJ Logistics</span> South Korean logistics company

CJ Logistics Corporation is a logistics company headquartered in Seoul, South Korea. It is the oldest and largest parcel delivery firm in South Korea.

Qingdao Doublestar Co., Ltd. is a Chinese tire company. Formed in 1921, it is listed in the Shenzhen Stock Exchange. Doublestar is also the owner of Kumho Tire.

References

  1. 1 2 3 "Kumho Tire Co., Inc. Business Report FY ended Dec. 2018". Marklines. Retrieved 20 March 2021.
  2. ↑ "Kumho Tire separates from Kumho Asiana Group". 29 December 2017. Retrieved 2018-11-28.
  3. ↑ "Archived copy". Archived from the original on 2010-09-08. Retrieved 2010-08-25.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ↑ "South Korean Conglomerate Faces Cash Crunch", The New York Times, Reuters, 2009-12-30
  5. ↑ "Kumho Tires Recalls Products in China". english.cri.cn. Retrieved 3 June 2023.[ dead link ]
  6. ↑ "Kumho Denies Chinese Media Claims on Recycled Rubber - Tire Review Magazine". Tire Review Magazine. 17 March 2023. 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. Archived from the original on 2020-09-17. Retrieved 2023-06-22.
  8. ↑ "Year in Review: Doublestar, Kumho complete merger after failed attempt in 2017". Rubber and Plastics News. 19 December 2018.
  9. 1 2 "NLRB orders new union vote at Kumho's U.S. tire plant". Tire Business. 2019-05-16. Archived from the original on 2019-05-16. Retrieved 2024-05-09.
  10. ↑ Lafer, Gordon; Loustaunau, Lola (2020-07-23). "Fear at work: An inside account of how employers threaten, intimidate, and harass workers to stop them from exercising their right to collective bargaining". Economic Policy Institute . Archived from the original on 2020-07-25. Retrieved 2024-05-10.
  11. ↑ "Manchester United, Kumho Tyres and the Foundry help kids cross better - News - THE DRUM - Advertising, Design, Media, Marketing, Digital, PR - News, Information & Jobs". Archived from the original on 2010-07-06. Retrieved 2010-08-25.
  12. ↑ "Kumho Tyres | Motorsport". Archived from the original on 2011-01-30. Retrieved 2010-08-25.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.