Kumho Workers Go on Strike Amid DoubleStar Purchase
Kumho Tire workers are on strike after Chinese company Qingdao Doublestar Co. Ltd bought a majority stake in the company.
Doublestar Being Blocked from Kumho Name
China-based Doublestar Tyre Co.’s plan to take majority share of Kumho Tire Co. may be in jeopardy, according to Korean media.
Doublestar Continues Pursuit of Kumho Amidst Controversy
The saga continues in the sale of the majority share of Kumho Tire Co. According to South Korean media, leading bidder Qingdao Doublestar Tyre Co. is fighting back after growing pressure to prevent the tiremaker from purchasing the 42% majority share of Kumho.
Report: Politicians Urge Creditors Not to Sell Kumho Tire to China
South Korean politicians have voiced their concerns about the pending Kumho Tire/Doublestar Tyre Co. deal, asking the Korea Development Bank (KDB) and other creditors not to sell to a Chinese company, the Korea Times reports.
Report: Park Threatening Legal Action to Buy Back Kumho
Park is reportedly threatening to sue the Korea Development Bank (KDB) in an effort to pressure KDB to allow him to bid for a controlling stake in Kumho Tire through a consortium.
Park Closer to Reacquiring Kumho Tire
Park Sam-koo, chairman of Kumho Asiana Group, has secured financial investors to buy back Kumho Tire Co., according to The Korea Herald.
Report: Doublestar Preferred Bidder for Kumho Tire
Asia media reports China’s Qingdao Doublestar Tyre Co. was selected as the preferred bidder for the controlling stake of Kumho Tire Co.