2001 Net Loss For Kumho Group

Kumho Industrial recorded a net loss for 2001 of 221.5 billion Won (US$169.5 million) on a turnover of 2.

68 trillion Won. This loss is an increase of 114 per cent over the year 2000 loss of 103.4 billion Won.

Half the loss is accounted for by sales of assets, such as buildings, at a loss. On the positive side, Kumho’s tyre business performed very well, turning in a profit. Kumho is currently involved in negotiations to sell its tyre division for US$1.