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Kumho promotes R&D VP to CEO

Kumho Tire Co. Inc. has promoted Il Taik Jung to president and CEO.

Mr. Jung previously held leadership positions as vice president of the research and development division, as well as the head of manufacturing technique.

Kumho did not say how long Mr. Jung has been with Kumho or describe other work history, saying only that his "extensive background" in R&D will help him lead and grow Kumho Tire's dedication to developing innovative and high-performance products.

Prior to this Kumho's CEO was Jeon Dae-jin, who was appointed to that position in 2019.

Based on sales of $2.02 billion in 2019, Kumho is considered the world's 18th largest tire maker. Its largest shareholder is China's Qingdao Doublestar Group, which acquired a 45% ownership stake in 2018.

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