SEOUL, South Korea — Kumho Tire Co. Inc. has promoted Il Taik Jung to president and CEO, succeeding Jeon Dae-jin, who stays with Kumho as an executive adviser.
Mr. Jung, a Kumho employee since 1988, previously held leadership positions as vice president of the research and development division, as well as the head of manufacturing technique.
Kumho said Mr. Jung's "extensive background" in R&D will help him lead and grow the company's dedication to developing innovative and high-performance products.
Mr. Jeon had held the president and CEO's positions since 2019.
Based on sales of $2.02 billion in 2019, Kumho is considered the world's 18th largest tire maker. Its largest shareholder is China's Qingdao Doublestar Group, which acquired a 45% ownership stake in 2018.