Yokohama opens subsidiary in South Korea
Yokohama Rubber Co. Ltd. recently established a wholly-owned subsidiary in South Korea.
Yokohama Tire Korea Co. Ltd. will start operations in February. It will strengthen marketing in Korea by taking over from a local imported tire distributor, according to Yokohama Rubber.
In July 1999, the Korean government lifted a ban on sales of imported tires. Yokohama responded to this decision in 2000 by locally marketing mainly high performance tires for passenger cars. Unit sales surged, with Yokohama becoming well known in Korea as a manufacturer of premium tires.
The new company aims to strengthen sales of tires for passenger cars and sport utility vehicles, targeting annual sales of 1 billion yen within the next three years.