The Federation of Korean Industries (FKI) of Korea and the Japan Business Federation of Japan will actively cooperate to resolve the problems of Korean youth’s unemployment and Japanese companies’ difficulties in hiring talented workers by holding the “27th Korea-Japan Business Meeting” at the Japan
Kumho Tire announced on October 18 that its Crugen HP71 tire for urban sports utility vehicles (SUVs) launched in March of this year took home a prize in the product design category at the Japan Good Design Awards in Japan.This year, the Good Design Award marks the 61st anniversary as Japan's most p
The announcement was put out for a bid for Daewoo Engineering & Construction Co., Ltd. (Daewoo E&C) on October 13. The bid deadline was set on November 13. The Korea Development Bank (KDB) issued the sales announcement on its website. The offering is a 50.75% stake in Daewoo E&C which the KDB holds
According to the Korea International Trade Association, the number of import regulations targeting South Korean products is increasing this year as it did last year and the number is showing a particularly steep increase in the United States.This year’s number reached 22 by Saudi Arabia initiating a
Amid the trouble with Kumho trademark between creditors and chairman Park Sam-koo, Kumho Tire's preferred bidder Doublestar sent an agreement for the cancellation of a stock purchase agreement (SPA) to creditors on September 12, which put the sale of Kumho Tire finally aborted.As Doublestar announce
The sell-off of Kumho Tires actually broke up after controversies. On September 5, the Kumho Tire creditors, including the Korea Development Bank (KDB), held a shareholders' meeting and decided not to accept a demand to cut the sale price from China’s Doublestar.Doublestar demanded a change in the s
Park Sam-koo, chairman of the Kumho Asiana Group, decided to accept a proposal by the Korea Development Bank (KDB) in connection with a contract for the use of Kumho Tire trademarks with Doublestar of China. This means that chairman Park will take control of Kumho Tire through a primary right to buy
The South Korean government is about to intervene in the restructuring of Kumho Tire and GM Korea. To this end, the Financial Services Commission (FSC) recently transferred the management of companies invested by Korea Development Bank (KDB) from the Industrial Finance Division of the Financial Poli
On August 28, Minister of Trade, Industry & Energy Baek Woon-kyu expressed his objection to Korea Development Bank’s plan to sell Kumho Tire to a foreign company.“The Defense Acquisition Program Administration recently asked my ministry to respect the Technology Leakage Prevention Committee’s decisi
China’s Qingdao Doublestar Tire, the preferred bidder of Kumho Tire, made an official request to creditors to cut the sale price of Kumho Tire by 16 percent, or 155 billion won (US$137.45 million). The company seeks to buy Kumho Tire for 800 billion won (US$709.41 million).According to the Korea Dev
The sale of Kumho Tire led by the Korea Development Bank (KDB) has virtually ground to a standstill in seven months after Chinese tire maker Doublestar was selected as a preferred bidder in January this year.According to investment banking industry sources on August 17, Doublestar has recently deman
The Korean corporation of Chinese Double Star filed an application to the Korean Ministry of Trade, Industry and Energy to acquire Kumho Tire on August 16."Xingwei Korea, the Korean corporation of Double Star, submitted an application for the takeover of Kumho Tire in the morning of August 16,” said
Kumho Tire creditors will deliver a trademark use contract to Kumho Industrial and enter into a contract finalization process this week. The deadline for signing the contract set by creditors is the end of this month.According to the financial and industrial world on August 13, the creditors will se
Kumho Tire's sales force and overseas buyers took to the street together. On August 8, they held a silent protest against the problematic sale of the company in front of Kumho Asiana Main Building in Gwanghwamun, Seoul.They said that the Korea Development Bank (KDB)’s unreasonable sale of Kumho Tire
The Korea Development Bank (KDB) announced on July 26 that Kumho Tire creditors will accept chairman Park Sam-koo’s recent proposal and pay the tire manufacturer a shortfall in trademark royalties on a yearly basis.The chairman adhered to 0.5% of sales as the trademark royalties to remain effective
Kumho Tire’s trade union, subcontractors and partner companies united to prevent the sale of Kumho Tires to Double Star. They also said that although Kumho Asiana Group chairman Park Sam-koo's poor management is a problem and is to blame, they will prevent Kumho Tie from being sold abroad, which wil
Kumho Asiana Group Chairman Park Sam-koo proposed a final offer regarding the use of Kumho Tire trademark, which can make or break the sale of Kumho Tire. He partially accepted the revised offer from the Korea Development Bank (KDB) but asked creditors to clarify the brand usage fees. Park is trying
According to industry sources and the Ministry of Commerce, Industry and Commerce on July 17, the Directorate General Of Anti-Dumping and Allied Duties (DGAD) under the Ministry of Commerce and Industry of India made the final anti-dumping judgment on styrene-butadiene rubber (SBR) from Korea, the E
A confrontation over the use of the trademark right between creditors and Kumho Asiana Group chairman Park Sam-koo, which is the biggest issue of selling off Kumho Tire, is entering the homestretch. Chairman Park should clarify his final position on the creditor's revised proposal by July 18.Accordi
Forty one Kumho Tire executives, including CEO Lee Han-seob, issued a statement on July 13, saying, “We are absolutely opposed to selling the company to Doublestar, which is unqualified. We strongly ask our creditors to help Kumho Tire remain part of Kumho Asiana Group.” They also said that they can