Key people CEO Kang Byung-joong Headquarters Yangsan, South Korea Founded 1942 | Net income US$ 120 million (2013) Revenue 1.68 billion USD (2013) | |
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Type Public (KRX: 002350)
(traded on the Korea Stock Exchange) Operating income Total assets US$ 2.25 billion (2013) Total equity US$ 0.78 billion (2013) Stock price 002350 (KRX) ₩ 14,000 +300.00 (+2.19%)24 Mar, 3:30 PM GMT+9 - Disclaimer Subsidiaries Nexentire Hong Kong Holdings Limited, Nexen Tire America Inc, Nexen Tire USA, Qingdao Nexen Tire Corporation Profiles | ||
Nexen Tire (Korean: 넥센타이어) Corporation is a tire manufacturer headquartered in Yangsan, South Gyeongsang Province and Seoul in South Korea.
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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. 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 demand, the company opened a manufacturing plant in Qingdao, China in 2007. Nexen's domestic market share increased from 8% to 20%, with annual sales exceeding $600 million. The company employs over 2,000 and currently exports to 120 countries. Its major Korean competitors are Hankook and Kumho.
The company's name, a portmonteau of next and century is reflected in its marketing tagline, "Next Century Tire."
Nexen tire technology
Products
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 more than 30 other passenger car and light truck tires.