Previously, Qingdao Double Star and Korea Industrial Bank signed the "Share Purchase and Sale Agreement", and they are preparing to purchase 42.01% of Kumho Tyre with 955 billion won (approximately 5.8 billion yuan). According to the agreement between the company and Kumho Tire Bonds, it owns Kumho Tire's 20-year brand use rights. According to the report, if Kumho Asiana Group does not award Kumho Tire's trademark rights to Qingdao Double Star, Kumho Tire Corp. is likely to go bankrupt. It is understood that although Park San-hsiu and Park Se-chang have waived the exercise of Kumho Tire's preemptive right to buy, they still encountered a lot of resistance in the acquisition of shares of Kumho Tire by Qingdao Shuangxing, especially after Wen Jiaxuan took office as president of South Korea. In order to win the support of the South Korean people, he has publicly expressed concern for the acquisition of Kumho by Double Star. Some analysts speculated that Wen will not approve this tire M&A transaction unless the Chinese company can guarantee that the work of South Korean employees will not be affected, and they must also commit to all aspects of investment, technical protection, trademark use, and other issues. Automatic Production-lines Extrusion Profiles Assembly Lines Profiles,Aluminium Extrusion Combination Profiles,T-Slot For Aluminium Profile Conveyor,Extruded Black Assembly Line Frame Foshan Modern Copper & Aluminum Extrusion Co.,Ltd. , https://www.fsmodernaluminium.com
Kumho Tires
Kumho tires may be bankrupted in the near future
According to reports, Kumho Tire may face bankruptcy in the near future.