South Korea's Tire Bank, which is engaged in the import and sale of wheels, said it intends to buy Kumho Tyre, Topof.ru reports.

"We are deeply sorry that Kumho Tyre can be sold to a Chinese company. As a friendly Korean company, we cannot stay away and do nothing, "said Tony Bank CEO Cho Kim Gung.

Tire Bank will make a final decision after it will hear the opinions of the two companies' trade unions, Kumho Tire lenders and the public.

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