Country Tire Automotive Nexen Summer and Winter Tires
NEXEN®A LITTLE HISTORY
Nexen Tire (Korean: 넥센타이어) Corporation is a tire manufacturer,
headquartered in Yangsan, South Gyeongsang
Province, and Seoul in South Korea.
Its major domestic competitors are Hankook and Kumho.
The company's name is reflected in the company slogan, "Next Century
Tire."
Established in 1942
under the name, Heung-A Tire Company, Nexen Tire Co. has served the industry
for the past 71 years. They were recognized in 1956 as the first Korean tire
company. In 1985, Nexen dedicated a facility in Yangsan, Korea, to the
production of radial tires.
The company changed
their name in 2000 from Woosung Tire to Nexen Tire Corporation. The name Nexen
is a combination of two future-oriented words; next and century. That same year
also saw Nexen Tire listed on the KOSPI 200 Index future market.
In 2005, Nexen Tire
was awarded a patent for the technology to manufacture rubber/stratified
silicate nano-composite tires. By 2006, they had completed development on the
new UHP and Winter LTR/SUV pattern. To accommodate increased global demand for
the Nexen brand, they opened yet another tire manufacturing plant in Qingdao,
China in 2007. Nexen's domestic market share increased from 8% to 20%, with
annual sales exceeding $600 million. Nexen employs over 2,000 employees. Nexen
Tire currently exports to 120 countries.