-Strong growth in Europe drives improved results
Kumho Tire (CEO Il-taek Chung) has sponsored the 2023 Team Chaboom Germany Expedition, a project to promote youth soccer in Korea.
The Team Chaboom Germany Expedition is a program in which 16 football dreamers who have won the Cha Bum-geun Football Award will travel to Germany to continue to develop the youth football environment in Korea. The players will experience friendly matches and joint training sessions with Bundesliga youth teams in the country, as well as experience a unique soccer journey through advanced soccer culture and youth emotional exchange.
At the event, Team Chaboom players had a special opportunity to spend time with the prestigious German football club Bayer 04 Leverkusen, an official premium partner of Kumho Tire, through various events. The team toured BayArena, Leverkusen's home stadium, and played a friendly match against the Leverkusen U14 team. Through this sponsorship, Kumho Tire will promote the Kumho Tire brand on Team Chaboom's jerseys and YouTube channels during the team's trip to Germany.
Since the 2019/2020 season, Kumho Tire has signed a sponsorship agreement with Bayer 04 Leverkusen of the German Bundesliga as the global official tire partner, raising brand awareness in Germany. Leverkusen is a familiar club to many of us as the team that produced Cha Bum-geun, who was known as the "Brown Bombers" and considered one of the best strikers of his time, and Son Heung-min (Tottenham Hotspur), who is currently at the center of the Premier League.
Recently, Kumho Tire signed a sponsorship agreement with the prestigious Italian soccer club AC Milan as an official premium partner and is actively engaged in sports marketing in the European market. Kumho Tire's sports marketing strategy has also had a positive impact on its performance. In the first half of this year, Kumho Tire posted sales of 2.3 trillion won, up 22.7% year-on-year, and operating income of 142.6 billion won, up significantly year-on-year. Global growth was driven by increased sales of replacement tires as well as tires for new vehicles, especially in Europe.
"Kumho Tire is raising brand awareness in the global market by entering into premium partnerships with prestigious global soccer clubs," said Jang Hyuk Yoon, Senior Vice President of G.Marketing at Kumho Tire. "Through this event, we will support youths in achieving their dreams through soccer."
Kumho Tire also has official global partnerships with AC Milan in Italy and Bayer 04 Leverkusen in Germany, as well as Tottenham Hotspur in England, FK Mladavoleslav in the Czech Republic, and BSC Young Boys in Switzerland. In addition, Kumho Tire plans to enhance its status as a premium brand by strengthening various marketing activities and investments to expand contact points with customers around the world.