ROME — Iltaik Jung, president and CEO of Kumho Tire Co. Inc., told a gathering of European dealers recently that the tire maker has been able to "turn things around over the last few years," noting that sales have grown despite the challenges of COVID-19 and supply chain disruptions.
Jung was among a group of senior Kumho officials who greeted invited dealers at the Kumho TCR World Tour, held at the Autodromo Vallelunga Piero Taruffi near Rome.
The company said the goal of the event was to strengthen the brand's presence abroad. Among the activities was a grid walk and 'Kumho Night in Rome," when the company presented its products and business strategies.
Other Kumho executives who attended included Seungbin Lim, head of sales division; Tony Gangseung Lee, head of European sales; and John Janghyuk Yoon, senior vice president of global marketing.
Jung also told dealers that the tire maker is "focusing on sharpening our product's competitive edge, expanding our market influence with increased supply and improving our sales and logistics service infrastructure, all with the aim of achieving the largest volume of sales in our history and solidifying our position as a company capable of sustainable growth."
Without citing actual sales figures, Lee said Kumho's revneue in Europe grew 45% year-over-year, "and we are seeing significant growth momentum this year as well. We have been recognized for our technological prowess in the European market and have strived to expand our sales network through tailored promotions for customers and a variety of other sales and marketing activities. We are also contributing to the creation of future markets."
The Kumho TCR World Tour takes place in eight countries on four continents, with stops in Argentina, Australia, Belgium, China, Italy, Hungary and Uruguay. Several top auto makers, such as Audi, Honda and Hyundai participate in the events, with their cars fitted with Kumho's Ecsta S700 and W701 racing tires.
Kumho struck a race tire supply deal in January 2022 with TCR series' organizer WSC Ltd. and since then has secured the designated tire supply contracts with nine TCR championship series operating around the world — Australia, Brazil, Denmark, Eastern Europe, Europe, Finland, Middle East, South America and Spain.