SEOUL, South Korea (Sept. 5, 2002) — General Motors Corp. will source tires from both Hankook Tire Co. Ltd. and Kumho Industrial Co. Ltd. in the coming years, the company said without disclosing details about the types of tires or size of the contracts.
The tires will be used on “future programs” in various regions, a GM spokeswoman said.
GM said it had signed deals recently to buy auto parts worth $107.5 million from 19 South Korean suppliers, including Hankook and Kumho. The deals reportedly were in line with agreements GM made when it agreed to invest in and help manage took over Daewoo Motor Co.'s passenger car operations earlier this year.
GM said it procured more than $100 million in auto parts from South Korean suppliers last