Kumho Tire Co., South Korea's second-largest tire maker by sales, said Thursday it will begin supplying tires for the Skoda Kamiq compact crossover in January.
Kumho Tire also has been supplying ECSTA PS71 original equipment tires to Skoda's Czech Republic-based plant that produces the Octavia sedan since May.
In the January-June quarter, its net losses widened to 132 billion won (US$116 million) from 43 billion won in the same period of last year due to the coronavirus impact on global tire demand for vehicles and tire production at the company's overseas plants.
Kumho Tire was acquired by China's Qingdao Doublestar Co.in July 2018. Doublestar said it will focus on mid- and low-end tires for trucks and buses, and Kumho Tire will focus on mid- and high-end tires for passenger vehicles.
Kumho Tire earns 60 percent of its total revenue from abroad. It has eight plants - three in South Korea, one in Vietnam, one in the United States and three in China - whose combined capacity reaches 55 million tires.
Prepared by the team of foreign office CzechTrade and CzechInvest Seoul