Kumho Tire Reports Strong Sales and Operating Profit in 4Q Last Year

Kumho Tire's performance in the fourth quarter of last year improved significantly.

Kumho Tire's sales reached 4.041 trillion KRW, and operating profit was 388.3 billion KRW, marking an 11.8% increase in sales and a 710.6% surge in operating profit compared to the previous year.

A Kumho Tire representative explained, "Last year, we secured production capacity through the expansion of our Vietnam factory and increased sales in advanced markets such as the United States and Europe. Additionally, stable profit structures were created through sales price management, diversification of distribution channels, and expansion of logistics infrastructure, resulting in improvements in both sales and operating profit."

Kumho Tire succeeded in returning to profitability in 2022, laying the foundation for business normalization, and set this year's business target at 4.56 trillion KRW in sales. It is expected to aim for the highest performance record since its founding.

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