Kumho intends to enter Formula One in the future
As reported on Motorsport.com today, the South Korean tire-maker, is believed to have written a letter of intent to the FIA when it emerged that Bridgestone had decided to leave the sport at the end of 2010.
"As we are a relative newcomer with the shortest history among the global top ten tyre makers, we need to compete in the global market with our technical power, and motor sports is the area where we can show off our capabilities," he told Tyres and Accessories magazine.
Kumho is already a big player in the F3 world, and Kim said the next target is Formula One.
"We already completed the development of F1 tyres in 2007 and now watch for an opportunity to enter into the F1 market as well," he said.
Hankook is another Korean tyre maker linked recently with F1, but Kim insisted Kumho is "the only Korean company to own technology to produce tyres for F1 vehicles".