Seoul (VNA) – Kumho Tire's manufacturing facility in Vietnam has emerged as a strategic export hub for the Korean tire giant, driving growth in key international markets while showcasing remarkable progress in financial health. According to the Republic of Korea's Financial Services Commission (FSC), the giant's 81.5 billion KRW (58.8 million USD) debt guarantee provided for its Vietnamese subsidiary for a Woori Bank loan, which was originally set to mature in early July 2027, was lifted on July 10 as the firm repaid the entire loan ahead of schedule. Kumho Tire Vietnam has been actively reducing its debt load since early 2024. The subsidiary's total debt surged from 119.5 billion KRW at the end of 2021 to 285.1 billion KRW in 2022, peaking at 367.1 billion KRW by the end of 2023. However, that figure declined 3.1% to 355.8 billion KRW by the end of 2024, and further dropped 4.5% to 339.9 billion KRW by the end of Q1 this year.