Kumho Tire Sets 4.27 Trillion KRW Sales Target for This Year... "Largest in Company History"

Kumho Tire announced on the 23rd that it plans to make 2023 a year of sales growth by setting a target of 4.27 trillion KRW, the highest sales revenue since its founding, accelerating its management normalization.

Last year, despite adverse conditions such as the global logistics crisis and rising raw material costs, Kumho Tire achieved sales of 3.5592 trillion KRW, a 36.8% increase compared to the previous year, and an operating profit of 23.1 billion KRW. Both sales and operating profit showed improved performance. This was due to the successful supply of premium products through continuous research and development (R&D), expansion of global distribution, and strengthening of brand awareness.

Additionally, CEO Jeong Il-taek resolved the wage lawsuit that had been ongoing since 2011, removing uncertainties in labor-management relations. Although faced with difficult internal and external management conditions such as economic recession, debt maturity, and liquidity crisis, it is evaluated that a reasonable solution was derived through smooth negotiations, allowing both labor and management to achieve a win-win outcome.

A Kumho Tire official stated, "This year, we will increase sales through expanding supply volumes to domestic and overseas automakers and diversifying sales channels. We will improve profitability by increasing the sales proportion of high-margin products, raising sales prices, and reducing internal costs."

Meanwhile, Kumho Tire plans to make 2023 a year of sales growth by setting a target of 4.27 trillion KRW, the highest sales revenue since its founding, accelerating management normalization. Furthermore, as it has established a foundation for management stabilization and future growth, it intends to focus on improving profitability through sales growth and cost efficiency.

This content was produced with the assistance of AI translation services.