Kumho Tire continued its growth in the second quarter of this year, driven by strong sales in the North American and European markets.
The company reported an operating profit of 182.2 billion won for the second quarter, a 4% increase compared to the same period last year.
Sales rose by 9.1% to 1.33 trillion won during the same period. This growth is attributed to an increase in original equipment (OE) tire supply and a rise in sales of high-profit replacement (RE) tires.
The company also focused on enhancing product value. In the second quarter, tires with a diameter of 18 inches or more accounted for 47% of sales. Additionally, electric vehicle (EV) tires made up 25.1% of global OE tire sales.
Kumho Tire has set a performance guidance for the year, aiming for sales of 5.1 trillion won, with a target of 47% for high-inch tire sales and 30% for EV tire supply.
Despite external factors such as U.S. tariffs and conflicts in the Middle East, Kumho Tire plans to maintain its profitability by focusing on high-margin products.
At the same time, the company is proceeding with the construction of its Hampyeong and European plants as planned, aiming to establish a global production system connecting Korea, Europe, and North America while accelerating its market penetration.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.