KumhoTyres


Burned Rubber: Kumho delays holiday bonuses indefinitely

Rubber factory workers in South Korea haven't had a very happy holiday season this year, and they can blame it on the negative traits of the trickle-down effect. Because Hyundai/Kia has been hit as hard as any other automaker in this economic crisis, business has been down for the country's second-largest tire maker, Kumho, as well. Due to the resulting dearth in liquidity, Kumho Tire Co. has just announced that it is unable to pay its workers their annual bonus. At 2.5 million won ($1,883) per worker and 3000 workers waiting for their cash, ... Read more →

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