Kumho Tire to appeal poor KDB rating

The unflattering evaluation Korea Development Bank (KDB) gave Kumho Tire on 7 July has ruffled feathers within the tyre maker’s management, and Kumho Tire intends to take legal action against what it considers a rating artificially given to achieve a specific purpose.

Business Korea writes that Kumho Tire president Lee Han-seop called the ‘D’ rated management evaluation “an obvious defamation against the management of Kumho Tire.” Lee added that Kumho Tire would appeal for the rating to be made anew, and would pursue legal measures to this end.