Kumho Petro Chemical Co., Ltd. (011780) received a presidential award for synthetic rubber development, Yonhap reported Tuesday. The award was presented on September 7.
The company developed a higher-value synthetic rubber for high-performance tires. Yonhap said the material improves both fuel efficiency and braking performance. The candidate report did not give the commercial name of the rubber.
The report did not state production capacity or customer contracts tied to the product. It also did not provide development spending or a sales figure. The company's market capitalisation was ₩3.1 trillion at Tuesday's close.
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| Symbol | Last Price |
|---|---|
| 011780Kumho Petro Chemical Co., Ltd. | ₩123,800 -1.7% |