Kumho Tire Continues Deliberations on Measures for 'Gwangju Plant Fire'

Not Yet Time to Discuss New Construction or Relocation of the Plant
Compensation for Affected Residents and Resolution of Labor Issues to Be Accelerated
Requesting Support from Civil Society for Company Normalization

Employees wiping off black dust that fell on the playground in a nearby apartment complex immediately after the fire at Kumho Tire Gwangju Plant. Provided by Kumho Tire

On June 12, Kumho Tire announced that it is preparing measures for a swift recovery from the recent fire incident at its Gwangju plant, as well as for the normalization of company operations, including the relocation of the plant.

In a press release issued on the same day, Kumho Tire stated, "Following the fire at the Gwangju plant, we are seeking rational solutions for the ongoing labor-management issues, in addition to providing prompt support to affected residents."

Regarding the recent controversy over whether support would be provided by the major shareholder, Doublestar, the company responded by stating, "Kumho Tire has been operating independently."

Kumho Tire further explained, "Kumho Tire has been managed under a system of 'independent and responsible management' led by domestic executives," and added, "The CEO and other executives have always prioritized the company's development in their management decisions and have been putting this into practice."

It has been confirmed that Kumho Tire communicated this position during a meeting presided over by the Deputy Mayor for Administrative Affairs of Gwangju Metropolitan City on June 11.

A representative from the Kumho Tire Gwangju Plant stated, "An investigation into the cause of the fire is currently underway, so we have not yet been able to accurately assess the extent of the damage. Although there are various rumors circulating about the Gwangju plant, there is nothing definite at this time. However, we are focusing on processing compensation for the affected residents as quickly as possible. We are also exploring solutions from multiple angles regarding issues such as employee job security."

The representative added, "As Kumho Tire has grown with deep roots in the local community, we need the support and cooperation of local residents to restore the company to normal operations."