Park Backs Out of Kumho Tire Sale
Korean media is reporting that Kumho Asiana Chairman Park Sam-koo has given up his right of first refusal for Kumho Tire. He has also stepped down from executive management for the company.
Park Passes on Kumho Tire Buyback, Doublestar Poised to Buy Company
Kumho Asiana Group Chairman Park Sam-Koo announces he will not exercise his right of first refusal to repurchase Kumho Tire, the Korea Herald reports.
Doublestar Forms Consortium to Buy Kumho
Qingdao Doublestar’s finances are now in doubt after the Chinese tiremaker reportedly took out a large loan and set up a consortium to acquire the 42% controlling stake in Kumho Tire, Korean media reports.
Park Asked for Detailed Kumho Tire Purchase Plan
Creditors of Kumho Tire Co. have asked Park Sam-Koo, chairman of the Kumho Asiana Group, to present a detailed plan for his buyback of Kumho Tire.
Kumho Asiana Regains Control of Holding Company
Kumho Asiana Group has taken back control of its holding company Kumho Industrial, according to the Korean Times. In 2009, Kumho Asiana Group had to sell off its controlling stake in the holding firm as part of its creditor-managed workout program. Kumho Chairman Park Sam-koo has been working on regaining control of the company for
Battle of Park Brothers Intensifies With a $390 Million Lawsuit
A long-standing feud between the sons of Kumho Tire Co. founder Park In-cheon has intensified, according to independent reports by Business Korea and the Korea Herald, with a $390 million “breach of duty” lawsuit. The suit, announced by the Seoul Supreme Prosecutor’s Office, was filed by Park Chan-koo, chairman of Kumho Petrochemical, against his older