After twenty one meetings, the management of Kumho Tire Co. in Seoul, South Korea, has reached an agreement with the labor union for its three South Korean tire plants. This agreement ends the strike after one day.
Also included in the agreement is a “peace” component that limits union strike actions in the future.
The three factories will resume normal operations for producing passenger and light truck tires immediately. Production of radial truck and bus tires will resume throughout April and May as raw material stock is resupplied to the factory.
“This consensus with the union includes wage concessions and productivity advancements that will greatly benefit all of our clients by creating a stronger Kumho,” says J.B. Kim, CEO and president of Kumho Tire U.S.A. Inc. “These changes will properly position us to rapidly emerge from our work-out and make us healthier.”
Kumho Tire U.S.A is the domestic distribution arm of Kumho Tire Co. For more information about the company and its products, visit www.kumhotireusa.com.
