Kumho Tire’s dramatic, fateful day
Mar 30, 2018
Cash-strapped Kumho Tire went through a rollercoaster ride Friday as the creditors, labor union and the government scurried to avoid the worst-case scenario of a court receivership just hours before the midnight deadline to agree to an acquisition by a Chinese investor. Tension had notched up when Deputy Prime Minister Kim Dong-yeon held a joint press conference pressing the labor union in the morning, before taking a dramatic turn in the afternoon when the union took a step back and announced t