Kumho Tire deal setback with Doublestar discount demand

Seoul – The process to sell a majority 42.01% share of Kumho Tire to Qingdao Doublestart Tyre has had a further setback with the Chinese company demanding a new buyout term, according to the Korean business newspaper Pulse News.

In an 18-Aug report, the Korean newspaper said that with the new demand, former owner and chairman of Kumho Asiana Group Park Sam-koo would be given a new chance to rebid for the South Korean tire manufacturing company.

Following a series of disputes over trademark rights between Park and…

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