Kumho Tire Reports Smooth Progress in Compensation for Gwangju Plant Fire Victims

Settlement Rate Reaches 65.5% in Just Over a Month

The compensation process for the fire accident at Kumho Tire's Gwangju Plant is proceeding smoothly, with a settlement rate of 65.5% achieved in just over a month.

Citizens submitting compensation claims at the reception desk set up on the first floor of the Welfare Building at Kumho Tire Gwangju Plant. Photo by Kumho Tire

According to Kumho Tire on August 8, the company has proactively initiated its own compensation program to help residents who suffered direct and indirect damages from the fire accident at the Gwangju Plant on May 17, 2025, quickly return to their daily lives.

Kumho Tire determined that the compensation process could be delayed and, considering the urgency of recovery, decided to provide priority compensation on its own initiative.

As a result, from May 19 to June 10, just two days after the fire, Kumho Tire, in cooperation with Gwangsan District Office, began accepting damage claims, ultimately receiving a total of 20,199 submissions.

Of these, approximately 8,000 claims were formally registered for compensation, and priority review was conducted for 5,371 cases involving personal injury.

For cases where the review was completed, settlement negotiations began via phone and in writing on July 10, and for cases where settlements were reached, compensation payments have been made sequentially since July 25.

Of the 3,674 cases that have been reviewed to date, settlements have been reached in 2,405 cases, resulting in a settlement rate of 65.5%.

So far, compensation payments have been completed for 1,804 cases. For the 496 cases settled by August 5, payments are scheduled for August 11. Additional settlements will be processed sequentially thereafter.

A Kumho Tire representative stated, "To alleviate the suffering of residents as much as possible, the company is mobilizing all available resources to ensure swift compensation," adding, "We are continuously streamlining procedures so that compensation can be paid immediately upon settlement for reviewed cases."

The representative further commented, "We will continue to do our utmost to minimize inconvenience for victims and provide meaningful assistance."