Nexen Tire Corporation, headquartered in Yangsan, South Gyeongsang Province and Seoul, South Korea, is a tire manufacturer known for its innovative approach and global presence. Established in 1942 as Heung-A Tire Company, it has grown into a major player in the tire industry.
Historical Progression:
- The journey began in 1942 with its original name, Heung-A Tire Company.
- 1985 marked a significant shift with the dedication of a facility in Yangsan, Korea, for radial tire production.
- The year 2000 was pivotal when the company rebranded from Woosung Tire to Nexen Tire Corporation and got listed on the KOSPI 200 Index future market.
Innovation and Expansion:
- In 2005, Nexen Tire was awarded a patent for manufacturing rubber/stratified silicate nano-composite tires.
- By 2006, they had developed new UHP and Winter LTR/SUV patterns.
- To meet increasing demand, Nexen opened a manufacturing plant in Qingdao, China, in 2007.
- The company witnessed a significant rise in its domestic market share, from 8% to 20%, with annual sales surpassing $600 million.
- Nexen employs over 2,000 people and exports to 120 countries, competing with major Korean counterparts like Hankook and Kumho.
Brand Identity:
- The name Nexen, a blend of “next” and “century,” embodies the company’s forward-looking philosophy, encapsulated in their tagline, “Next Century Tire.”
Product Range:
- Nexen offers a diverse range of products, including N2000, N3000, N5000, N6000, N7000, and N8000, N9000, NFERA SU1, NFERA SU4, NFERA SUR4 NFERA RU5, NBLUE HD, NBLUE HD Plus, NBLUE Eco, CP661, Capitol, and over 30 other passenger car and light truck tires.
Sponsorships and Associations:
- Nexen has been a proud sponsor of Manchester City F.C. since 2015.
- In 2017, Nexen became Manchester City’s first sleeve sponsor, extending this sponsorship to the men’s training kit, Manchester City W.F.C.’s kit, and Manchester City Esports kit in 2020.
- In motorsports, Nexen has sponsored notable drifters in Formula D, including Fredric Aasbø, Ken Gushi, Tanner Foust, Chris Forsberg, and Ryan Tuerck.