Kumho Asiana group to sell assets

ERJ staff report (DS)

Seoul, Korea — The Kumho Asiana group is to sell off some assets and embark on a massive cost-cutting exercise in a bid to strengthen its financial position. The group, which owns Kumho Tire, is not expected to sell the tyre activity.

Last week the company announced that its two main activities — Kumho Industrial and Kumho Tire – would be put under a debt-workout programme. The group also owns Korea Kumho Petrochemical which operates rubber chemical and EPDM businesses. The…

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