Doublestar Tire has received SZSE approval to officially absorb a 45% stake in Kumho Tire, valued at $708.2 million for global consolidation.
Doublestar and Kumho Tire Combine to Enter Global Top 10 Tyre Manufacturers
Doublestar Tire announced on February 6, 2026, that the Shenzhen Stock Exchange (SZSE) M&A Committee has approved its restructuring plan to acquire 45 per cent of Kumho Tire‘s stake, valued at approximately $708.2 million. This milestone followed what Doublestar had previously described as one of the most “torturous, magnificent, bizarre” cross-border acquisitions in history.
Between 2009 and 2016, South Korean tyre manufacturer Kumho entered a debt workout programme following the collapse of its parent company, Kumho Asiana Group. In 2016, the Korea Development Bank put 42.1 per cent of Kumho Tire‘s stake for sale and, a year later, Qingdao Doublestar was named as the lead bidder. However, this deal collapsed almost immediately due to a legal battle with former chairman Park Sam-koo over buy-back rights and trademark usage.
In 2018, with no financial lifeline, Kumho Tire faced liquidation. Despite initial protests from labour unions, a deal with Doublestar Tire was later struck after the majority of workers voted for it. By July 2018, the Doublestar Group parent company successfully invested $607 million for a 45 per cent stake.
Between 2019 and 2025, Kumho returned to profitability, focusing on high-end electric vehicle (EV) tyres and smart manufacturing. During this period, it operated as a separate entity from its Chinese owner. The SZSE’s approval means that the publicly listed company, Qingdao Doublestar Co Ltd, has been given a green light to officially absorb the 45 per cent stake. The consolidation positions the combined firm as a member of the Global Top 10 tyre manufacturers.
Moving forward, the group will use a dual-brand strategy, which positions Kumho Tire as the premium brand, while Doublestar serves the for value and commercial tyre segments. “Through in-depth synergy in strategic planning, product development, production layout and resource integration, Doublestar and Kumho will jointly build the world-leading tyre enterprises!” Doublestar Tire said.
