Kumho synergies & new growth: Doublestar benefitting from acquisitions

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It was a difficult birth. As regular visitors to this site are well aware, Qingdao Doublestar Co Ltd.’s acquisition of Kumho Tire was punctuated by more than its share of complications: Threats of mass resignations, bickering over brand name use and questions about financing all belonged to the experience.

Read the source article at Tyrepress

Kumho promotes Yong-Sik Shin to head of America Business Division

ATLANTA—Kumho has promoted Yong-Sik Shin to a newly created role as head of its America Business Division, overseeing the company’s three main businesses in North America.

Read the source article at Rubber and Plastics News

Kumho European Technical Centre under new leadership

At the beginning of June, 50-year-old Matthias Bode (above) took over as head of Kumho’s European Technical Centre (KETC) in Mörfelden-Walldorf, Germany. He is responsible for the development of all Kumho products for the European original equipment and replacement tire markets, and reports to M J Lee, senior vice president at the company’s global R&D center in Korea.

Read the source article at Tire Technology International

Kumho’s Jong-Hoon Baek elected president of the IISRP

SEATTLE— Jong-Hoon Baek, an executive vice president for Kumho Petrochemicals, was elected president of the International Institute of Synthetic Rubber Producers for 2019-20.He will succeed Brian Chapman, who will become the institute’s past–president international.

Baek, who was elected at the association’s 60th annual general meeting on May 15, has a range of experience in the polymer industry from roles he has had in technical, marketing and sales areas, in addition to senior management positions he has held.

Read the source article at Rubber and Plastics News

Kumho Tire names new boss for Germany

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Effective 1 May, Woongchul Shin has taken on the role of general manager at Kumho Tire Europe, and as such is responsible for Kumho’s business in the German market. He succeeds Namwook Jung, who has relocated to Milan to head the Kumho Tyre Italia operation.

Read the source article at Tyrepress

Kumho Enhances WinterCraft Ice Wi31

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Kumho Tire Canada recently announced that it has made improvements to its studdable WinterCraft Ice Wi31 tire by increasing the number of spikes on it.

The change has been made for two of the tire’s main sizes. For size 195/65R15 (04L / XLL), the number of spikes has been increased from 150 to 200. Similarly, for size 205/55R16 (04L / XLL) the number of spikes is now 200 instead of the earlier 150.

Read the source article at Autosphere.ca

Kumho Tire Launches New SUV/CUV Tire

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Kumho Tire has recently announced the launch of its “premium” tire specifically designed for sports utility vehicles.

Designed for CUVs and SUVs, the newly launched Crugen HP71 is an all-season tire. In a release by the company, Kumho Tire affirms that the tire has been developed to offer a top-luxurious feel and a comfortable and quiet ride along with a level of safety, performance and longevity.

Read the source article at Autosphere.ca

Kumho delisting from London Stock Exchange

South Korea’s second-largest tyre manufacturer, after Hankook Tire, said the reason for delisting its 76,034 shares traded on the LSE was to cut costs as financial losses continued to accumulate last year. The move would leave Seoul as the only market where its shares will be openly traded.

Kumho reported an operating loss of KRW89.9 billion (US$79 million) in 2018, with the fourth quarter marking the eighth consecutive quarter of financial losses for the company. Weak performance in the replacement market was given as the main reason for the losses.

Read the source article at Tyrepress

Kumho Tire Appoints Jeon Dae-Jin as President, CEO

Kumho Tire has appointed Jeon Dae-jin, currently senior executive vice president, as the new CEO.

During his 35-year tenure with Kumho, Jeon has held various leadership roles in compound research, technology development and bolstered the manufacturing process in an effort to increase productivity, efficiency, and effectiveness.

Read the source article at Tire Review

Reports: Kumho “struggling” to find CEO

Kumho Tire has been struggling appoint new company leadership after its previous chairman left following Doublestar’s purchase of the company.

According to Kumho Tire, the company will not appoint a new chairman at its pre-scheduled March shareholders meeting. Vice president Jeon Dae-jin will continue as the acting CEO in the interim.

Local news reports cite Kumho insiders as saying that Doublestar is working on finding a suitable candidate, but is “struggling” to find someone with the right combination of skill. According to the reports, in December Doublestar offered the role to former Korea Development Bank (KDB) senior vice president Lee Dae-hyun, but he declined following opposition from Kumho Tire’s union.

Read the source article at Tyrepress