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Kumho Tire Parent Eyes Buying Back Bus Company

Korea Joongang Daily reports that Kumho Asiana Group is looking to buy back Kumho Buslines, which it sold to private equity in 2012 while working to resolve liquidity problems. Kumho Asiana Group is the parent company of Kumho Tire Co. Kumho Buslines is currently owned by an equity fund jointly run by IBK Securities and

Kumho Looking to Sell Daewoo Share

Creditors of South Korea’s Kumho Asiana Group, parent company of Kumho Tire Co., are said to be considering selling a 1.46 trillion won stake in Daewoo Engineering & Construction Co. held by the group’s affiliates via a block trade. Group company Kumho Industrial Ltd. holds 14.6% of Daewoo Engineering & Construction and other units own

Kumho Creditors May Inject Cash This Month

Kumho Tire Co. could reach a deal with creditors on new cash injections and debt restructuring by the end of the month, according to the head of Korea Development Bank, Kumho Tire’s main creditor. The South Korea-based company, a unit of Kumho Asiana Group, already has reached an agreement to convert debt to equity, Min

Kumho Earnings See Massive Jump in Q2

Kumho Tire Co.’s second quarter earnings jumped 160.4% from the tiremaker’s Q1 results, to 53.9 billion won (US$45.5 million) from 20.7 billion won. Kumho posted a net loss of 113.2 billion won in the second quarter of 2009. Sales rose 34.1% year-on-year to 628 billion won in Q2. Revenue increased 7.1% in the April-June period

Daewoo Sale Helps Kumho Restructuring Plan

The Kumho Asiana Group is one step closer to untying its financial knots as the financial investors of Daewoo Engineering and Construction accepted the terms for selling their share in the company. This leaves the path clear for Kumho Asiana to continue its restructuring plans a step further without losing Kumho Industrial to court receivership.

Bank Chief Calls for Shareholders to Help Fix Kumho

The Korea Times reports that Korea Development Bank (KDB) Chairman Min Euoo-sung has called for dedicated efforts by the Kumho Asiana Group owner’s family to save the group. The head of the state-run bank, one of the main creditors of the troubled group, said in an interview with Yonhap News that the owners or major

Kumho Issues Statement Regarding Financial Woes

Kumho Asiana Group, through its Kumho Tire USA Corp. subsidiary, issued a statement late today regarding its financial position. It had been widely reported that cash strapped Kumho Asiana Group and its creditors agreed to a debt restructuring program, under which Kumho Asiana would sell a controlling stake in its Daewoo Engineering & Construction Co.

Kumho Tire Project Still on Schedule

(Macon.com) The Kumho Tire USA project continues to move along as expected, according to various reports made Mar. 2 to the Macon-Bibb County Industrial Authority.

Kumho Asiana Group to Boost Liquidity

(Korea Times) Kumho Asiana Group, owner of Kumho Tire Co., plans to raise 4.6 trillion won in fresh money by the end of next year through the sale of assets owned by its business units to quell growing market speculation that the group may face liquidity shortage, following a series of mergers and acquisitions over the past few years. ?

Hankook Tire Releases 2022/23 ESG Report

The report unveils sustainability strategies, including energy reduction and eco-friendly partnerships.

Hankook-ESG-Report