Kumho Tire reports 24% rise in second quarter operating profit

Seoul – Kumho Tire has posted higher sales and operating profit for the second quarter of 2026, helped in part by expanded supply of OE tires in North America and Europe.

The Korean tire maker recorded consolidated sales of KRW1,332 billion (€810 million), up 9% from KRW1,221 billion reported the year before.

Operating profit for the three months ended 30 June rose 24% year-on-year to KRW182.2 billion Kumho reported 30 July.

The quarter marked 11th consecutive quarter that the company has exceeded KRW1,000 billion sales, said Kumho, linking the growth to higher OE supply in North America and Europe, as well as increased sales of replacement tires.

In Europe, in particular, the company recorded its “highest-ever quarterly sales” of KRW421 billion, which it said was a result of strengthening strategic product mix centred on new premium products and high-inch tires.

Operating profit improved on higher sales of OE tires and “high-margin” products, including high-inch and EV tires.

Kumho said the proportion of high-inch products (18 inches or larger) reached 47% in the second quarter, while the supply share of EV tires based on global OE sales reached 25.1%.

Kumho Tire has set itself a target of KRW5.1 trillion in revenue, a 47% share of 18-inch high-inch product sales, and a 30% share of EV tire supply in 2026.

The tire maker said it achieved growth despite “persistent cost-increasing factors” such as US tariff policies and conflicts in the Middle East.

“The company plans to proceed without setbacks with the construction of its Hampyeong and European plants to fully establish a global production system connecting Korea, Europe, and North America,” it concluded.