Gwangju Chamber of Commerce Appeals Regarding Kumho Tire Bonus Lawsuit on Ordinary Wages

[Asia Economy Honam Reporting Headquarters Reporter Park Jin-hyung] The Gwangju Chamber of Commerce and Industry issued an appeal on the 11th, hoping for the court's leniency in the Kumho Tire ordinary wage bonus lawsuit, considering the company's management situation.

Through the appeal, Gwangju Chamber of Commerce stated, "Kumho Tire Co., Ltd., which has been responsible for the economic growth and job creation in the Gwangju and Jeonnam regions for over 60 years, has seen its financial situation worsen, with cumulative net losses exceeding 500 billion KRW since graduating from workout."

They added, "Depending on the verdict of the retrial scheduled for the 16th of next month, there is concern that Kumho Tire will incur an additional enormous cost exceeding 200 billion KRW, potentially leading to a recurrence of the 2009 workout crisis."

In particular, they explained, "Kumho Tire employs more than 10,000 people, including indirect employees such as subcontractors, and the sales generated from the Gwangju and Gokseong factories approach 1.5 trillion KRW annually, having a significant impact on the regional economy."

The Gwangju Chamber of Commerce said, "If concerns regarding the recalculation of ordinary wages materialize, considerable damage is expected not only to the approximately 56,000 direct and indirect employees and their families but also to the regional economy."

Finally, they stated, "We respect the court's judgment on whether there has been a violation of the principle of good faith. Nevertheless, we appeal for the court's leniency, considering the current severe difficulties Kumho Tire Co., Ltd. has faced since the workout and so that they can contribute more significantly to the national and regional economy."

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