Kumho Industrial Co. owns the trademark rights of Kumho Industrial Co., Ltd., and the company sent a letter to the main debtor of Kumho Tire, Korea Development Bank (KDB), on June 19, 2017 and reiterated its Conditions: Qingdao Shuangxing must pay the copyright royalties for the trademark. The fee is calculated based on 0.5% of Kumho Tire's annual sales, and it must be paid for 20 consecutive years. This means that the mandatory use period for the “Kumho†trademark is from The previous agreement was extended to 20 years. If Qingdao Double Star agrees with its conditions, Kumho Hana may agree to use the “Kumho†trademark. Qingdao Shuangxing stated that the company insists on fulfilling the conditions as originally agreed. In March this year, the two parties agreed that the M&A expense was 955 billion won (approximately 5.71 billion won). At that time, Kumho Hana proposed to use 0.2% of the annual revenue of Kumho Tire as copyright royalties. , And Qingdao Double Star has the right to give up the use of "Kumho" trademark after 5 years. Mergers and acquisitions cooperation, production capacity layout, union association dynamics, Qingdao Double Star merger Kumho Tire stalemate, Kumho Hana unilateral price increase, Qingdao Double Star do not agree Kumho price increases To ensure that the M&A deal can be successfully concluded, the creditors of Kumho Tires issued a warning to Kumho Hana Group claiming that if Kumho Korea Asia still insists on this demanding requirement, they will not renew (roll over). Bonds purchase new bonds) Kumho Tire bonds, and its bond market value is 1.3 trillion won, which will expire this month. According to a source from Kumho Industries Co., Ltd., Korea Industrial Bank set the copyright fee rate to 0.2% of annual sales revenue, which is due to the fact that Kumho Korea Asia’s average royalty for its company is set at 0.2% of sales revenue. . However, Kumho Korea Asia now insists on raising the rate to 0.5%, so that Kumho brand preservation. According to the report, based on Kumho's sales of 3 trillion won (approximately RMB 17.92 billion) last year, the Double Star Group will need to pay 150 billion won (approximately 896 million yuan) annually in accordance with the new terms. This means that the trademark fee to be paid by Qingdao Double Star will far exceed expectations. Qingdao Double Star will not concede, the company insists on 955 billion won in M&A prices, and Kumho’s copyright royalties have been included. Industry sources said that Qingdao Double Star is unlikely to pay such a high price. South Korea’s Kumho Tire is now facing bankruptcy, and its previously-acquired deal with Qingdao Twinstars is likely to fall.
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Qingdao Double Star and Kumho Tire M & A Stalled
M & A Case Stalls Qingdao Double Star Rejects Kumho Unilateral Price Increase
According to reports, although many of Kumho Tire 's claims were pressured by Kumho Hana, the company still insisted on increasing the copyright fee for the "Kumho" trademark, which was increased from 0.2% of Kumho Tire's 2016 sales. At 0.5%, Qingdao Doublestar ’s acquisition of Kumho Tire has stalled.