Kumho Tire shares that its performance in the all-important European market has recently shown strong growth. First-quarter sales for 2023 were up 92% on those of the same period last year at €165 million, while the quarter-on-quarter figures rose by a solid 15%. Impressive as these results are, the company views them as “just the first stage” in a period of sustained investment which it anticipates will result in ongoing growth within the region.
Sponsors tend to come and go in the fast-moving world of motorsport, making Kumho’s relationship with the BMW Racing Drivers Club one of the longest of its type in UK club history – the opening race of the season at Brands Hatch on 8 April will mark its 26th year.
Already the official tyre supplier to the TCR touring car competition on four continents, Kumho Tire recently signed a deal to become the title sponsor and exclusive tyre provider to the related TCR World Tour. All cars participating in the 2023 Kumho TCR World Tour will thus race on the Kumho Ecsta S700 racing tyre or, in wet conditions, the Ecsta W701.
Kumho has replaced Michelin as control tyre supplier to TCR Australia, adding the race series down under to a touring car championship portfolio that already sees it providing tyres for TCR Europe, TCR South America, TCR Brazil, TCR Spain, TCR Eastern Europe and TCR Denmark. The tyre maker will also supply control tyres for the new in 2023 TCR World Tour.
The rise and rise of the SUV has been a dominant feature of the car market for some time now, and Kumho says this is having a “fundamental effect” on its tyre range. This can be witnessed in the most recent addition to the company’s SUV/4×4 line-up, the Ecsta PS71 SUV.
Gangseung ‘Tony’ Lee is the new head of Kumho Tire Europe GmbH. The tyre maker’s former senior vice president of global marketing commenced his European remit on 1 October, succeeding Namhwa Cho, who is reportedly taking on the role of president of Kumho Tire USA.
Well used to receiving Red Dot Design Awards for its road tyres, Kumho has now won one for its ‘Airborne Tire’, a revolutionary concept product aimed at the rapidly evolving UAM (Urban Air Mobility) sector. Kumho’s latest Red Dot Design Award was in the ‘Design Concept’ category.
For the first time since being acquired by China’s Doublestar four years ago, Kumho Tire has published an annual report. Under the title ‘Up and Running’, the South Korean tyre maker reports on the course of the 2021 business year, which the manufacturer closed with a turnover of KRW 2.6 trillion won (£1.65 billion), a year-on-year increase of 20 per cent.
South Korean tyre makers can once again compete head-to-head on the baseball field, with Kumho Tire resuming its sponsorship of the Kia Tigers after a four-year hiatus. It joins Hankook Tire, sponsor of the Doosan Bears, in the top-level KBO League.
Kumho Tire is ranked among the top 12 per cent of the automotive parts industry in Morgan Stanley Capital International’s (MSCI) recent environmental, social, and governance (ESG) evaluation. The tyre maker has improved its evaluation score has been steadily rising year-on-year, having received a BBB grade in 2019, an A grade in 2021, and an AA grade this year.
Kumho Tire representatives have confirmed reports that the South Korean tyremaker has signed a Memorandum of Understanding with Saudi tyre business Black Arrow Tire Co (Blatco). However, the two parties differ on the degree of progress made with the talks.
Various news sources are reporting that South Korea’s Kumho Tire signed a memorandum of understanding (MoU) with Saudi Arabia-based Blatco (Black Arrow Tire Co. as part of the Saudi-South Korean Business Forum on 18 January 2022. As many as 13 agreements were signed during the Saudi-South Korean Business Forum, of which 10 were signed by oil major Saudi Aramco.
Following the WSC Group’s announcement that Kumho Tire has developed a bespoke tyre for TCR competition, TCR Europe has confirmed its intention to switch its exclusive tyre supply from Hankook to Kumho for the 2022 season. WSC approved the Kumho tyre following a successful evaluation test at the Circuit de Barcelona-Catalunya on the day after the final event of the 2021 TCR Europe season.
According to WSC Group Ltd., the entity behind the TCR touring car series concept, Kumho Tire has developed a bespoke tyre for TCR competition. WSC has approved the new tyre following its successful completion of evaluation testing at Circuit de Barcelona-Catalunya on 11 October, the day after the TCR Europe season drew to a close.
Hyundai has selected the Kumho PorTran KC53 as the standard tyre for its new Staria MPV. Kumho primarily designed the KC53 for European vans and LCVs, and it is an upgraded version of this pattern that it is now supplying in two sizes – 215/65R17C 108/105H and 235/55R18 104H XL – for fitment on the Staria. Kumho comments that the popular tyre is “recognised for its high durability, low wear rate and notable handling performance,” and is “tailor made for the climate and road conditions that prevail in Europe.”
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