Kumho Tire's creditors, labor union fail to reach agreement on sell-off to Doublestar
A group of 1,500 non-union members are supporting Kumho Tire’s sale to Chinese company
In a meeting held on Monday (19 March), Kumho Tire’s creditors and labor union failed to reach an agreement on proposed sale of the Korean tire-maker to Chinese rival Doublestar, the Yonhap News Agency reported earlier this week. Lee Dong-gull, chairman and CEO of the Korea Development Bank (KDB) held a 90-minute meeting with the labor union but failed to end the deadlock.
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