According to reports, Yokohama Rubber recently announced that it has signed a cooperative R&D agreement and a technology exchange agreement with Koreaâ€™s Kumho Tire .
Yokohama Rubber and Kumho Tires will jointly develop tire related technologies
Yokohama Rubber signed a memorandum of understanding with Kumho Tire at the end of November 2013 to plan future technology exchanges and establish capital alliances based on cross-shareholdings. In February 2014, the two sides signed a master agreement for the technology alliance, which is the basis for the two companies to sign the two agreements.
According to the latest agreement, Yokohama Rubber and Kumho Tire will jointly develop tire- related technologies in the future, including ultra-lightweight tires, eco-friendly tire technology, and new concept tires.
Kumho Tire was established in 1960 and is headquartered in Gwangju, South Korea. Its operating income ranks 12th among global tire manufacturers. The company has a total of eight tire factories in the world, located in South Korea, China and Vietnam. The total number of employees worldwide is approximately 11,000.
Yokohama Rubber was established in 1917 and its tire sales accounted for 8th in the world. The company has a total of 12 tire factories (not including construction plants) in seven countries around the world. The total number of employees worldwide is about 20,000.
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