Kumho Tire representatives (Global CEO Jin Changkui) said recently that regard, in order to improve international competitiveness, has signed a strategic Memorandum of Understanding (MOU) with the world's eighth largest tire company in Japan Ruckus Hallmark rubber.
The signing ceremony for the day was held at the Kumho Fanhua Golf Club in Weihai, Shandong, China. Kumho Hanya Group President Park Sankook, Kumho Tire Co., Ltd. and Yukoma Rubber Co., Ltd. Nanyun Zhongxin attended the meeting.
The main cooperation contents of both parties include joint implementation of future tire technology research and development, and the use of R&D resources owned by both parties to have R&D capabilities that can compete with the world's top three. In order to effectively advance this cooperation, the two parties plan to sign a technology exchange agreement and capitalize on some of the other’s shares. The specific contents of the technology transaction subject area and capital cooperation (method, scale, time, etc.) of the acquisition of the shares plan to enter into a legally binding formal contract as soon as possible through further consultations.
With the rapid development of automotive technology and the increasing demand from customers for high-performance, environmentally-friendly and innovative products, coupled with increasing competition in the tire industry, both parties believe that achieving economies of scale through strategic cooperation now is to increase research and development (R&D). Effective way to compete.
Recently, Kumho Tire established the Central Research Institute in the Kexing district of Yongin City, South Korea, to continuously strengthen its global research and development (R&D) network. Therefore, the industry believes that this technical cooperation is expected to further improve its international competitiveness in the tire market.
Jin Changkui global CEO Jin Changkui said: "By signing this strategic cooperation memorandum (MOU), is expected to build the basis for technical cooperation, in order to hope to further enhance the competitiveness of the world tire market."
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