Chinese tyre manufacturer Qingdao Doublestar has said it will retain all current staff following its acquisition of Kumho Tire. The company added it plans to recruit more employees locally and would "maintain Kumho Tire under independent management". Park says that the Korea Development Bank, one of the leading creditor banks in charge of the agreement, did not officially notify Kumho Asiana Group of its decision to disallow the company to form a consortium of strategic investors. In a statement on Monday, the firm said: "We are pleased that we have been able to secure an agreement with Kumho, which is committed to maintaining our existing workforce in China as well as supporting us
Chinese tyre manufacturer Qingdao Doublestar has said it will retain all current staff following its acquisition of Kumho Tire. The company added it plans to recruit more employees locally and would "maintain Kumho Tire under independent management". In a statement on Monday, the firm said: "We are pleased that we have been able to secure an agreement with Kumho, which is committed to maintaining our existing workforce in China as well as supporting us