Kumho Petrochemical Group met with the Weihai City government in Shandong Province, China, to discuss expanding cooperation in tourism and future industries.
On August 27, Kumho Petrochemical Group Chairman Park Chan-goo, CEO Park Jun-kyung, and President Baek Jong-hoon met with Weihai Mayor Kung Pan-ping and other city officials to review the current status of their partnership and discuss future collaboration.
Since incorporating Kumho Resort as a subsidiary in 2021, Kumho Petrochemical Group has been operating the Asiana Weihai Country Club (AWCC) in Shandong Province. Following the acquisition, the group has undertaken facility renovations and operational improvements at AWCC, and this meeting was organized to assess the ongoing partnership.
Attendees included Chairman Park Chan-goo, CEO Park Jun-kyung, President Baek Jong-hoon, Vice President Ko Young-do, and Executive Director Park Jeom-kyu (co-CEO of AWCC) from Kumho Petrochemical Group, along with Weihai officials including Mayor Kung Pan-ping, Vice Mayor Zhang Shandong, Secretary Ju Yun, Executive Director Wang De-zi, and Liu Wei from the Huanchu District.
Chairman Park expressed gratitude for the city government's support of AWCC operations, stating, "I hope that exchanges between Weihai and Korea will become more active alongside the development of China's golf industry." He added, "As Kumho Petrochemical Group focuses on attracting tourists and revitalizing the local economy through continuous investment, I hope the city government will provide unwavering support for our mutual cooperation."
Mayor Kung stated, "Weihai City hopes to broaden cooperation with Kumho Petrochemical Group based on advanced manufacturing, new materials, and battery industries, and we will continue to provide comprehensive administrative support to achieve mutual benefits and cooperative growth."
Meanwhile, Kumho Resort has seen growth since its integration into Kumho Petrochemical Group. Revenue increased from approximately 70.2 billion won in 2021, the year of acquisition, to 107 billion won last year, marking a 52% rise. Last year's operating profit was recorded at 10.6 billion won.
* This article has been translated by AI.
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