Q3 sees mixed fortunes for Korean tire makers amid higher shipping costs
South Korea’s top three tire manufacturers -- Hankook Tire, Kumho Tire and Nexen Tire -- showed mixed financial performances in the third quarter as they grappled with rising costs and softer demand in the automotive market. While Hankook and Kumho managed to post strong profits, Nexen struggled amid rising shipping expenses and weaker demand in North America. Hankook Tire led the pack, hitting a new record for quarterly sales at 2.44 trillion won ($1.77 billion), up 4.1 percent from last
Nov. 5, 2024