18 Feb 2005
Tokyo--Yokohama Rubber Co. Ltd. has set up a wholly owned sales subsidiary in South Korea and is targeting annual sales of nearly $1 million there within three years.
Yokohama has been active in South Korea--Asia's third biggest automotive market after Japan and China--since 2000, selling mainly high-performance tyres for passenger cars. Prior to July 1999, the Korean government had banned sales of imported tyres, Yokohama said.
Yokohama Tire Korea Co. Ltd. is Yokohama's 12th sales subsidiary worldwide, but only its second in Asia outside of Japan.
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