Kumho Tire Shuts Down Gwangju Plant After Fire

Kumho marked its highest-ever quarterly revenue of 1.21 trillion won in the first quarter

Kumho Tire Co. has suspended all operations at its Gwangju plant in South Korea after a fire destroyed 50-60% of the production lines in one of its two main buildings, a disruption that could end its four-year record-setting sales streak.

The blaze broke out around 7 a.m. in the section where raw rubber is blended with chemical compounds in the second building of the Gwangju plant on Saturday, according to the National Fire Agency. It was extinguished by Sunday afternoon, leaving one person and two firefighters injured.

The Gwanju plant, located about 300 km south of Seoul, has an annual capacity of 12 million units, making up about one-fifth of Kumho Tire’s annual production of 65 million units across South Korea, the US, China and Vietnam. …

Source: KED