Seoul: Kumho Tire Co. on Thursday reported a net profit of 351.9 billion won (US$243.2 million) for 2024, marking an increase of 104.8 percent from the previous year. The significant rise in net profit reflects the company's improved financial performance over the past year.

According to Yonhap News Agency, Kumho Tire's operating profit for the year reached 590.6 billion won, representing an increase of 43.7 percent from the previous year. This improvement in operating profit is indicative of the company's effective management and operational strategies.

Additionally, Kumho Tire's annual revenue saw a rise of 12.3 percent, amounting to 4.53 trillion won. The increase in revenue underscores the company's strong market presence and successful sales strategies during the year.