| Nexen Tire Corporation | |
| Type: | Public |
| Location: | Yangsan, South Korea |
| Key People: | CEO Travis Kang |
| Revenue: | US$ 1.68 billion (2013)[1] |
| Operating Income: | US$ 172 million (2013) |
| Net Income: | US$ 120 million (2013) |
| Assets: | US$ 2.25 billion (2013) |
| Equity: | US$ 0.78 billion (2013) |
| Num Employees: | 3,998 (2014) non-consolidated in Korea |
Nexen Tire Corporation (Korean: Korean: 넥센타이어) is a tire manufacturer headquartered in Yangsan, South Gyeongsang Province and Seoul in South Korea. It was established in 1942 under the name Heung-A 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.[2] Its major Korean competitors are Hankook and Kumho.
The company's name, a portmanteau of next and century is reflected in its marketing tagline, "Next Century Tire."
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[3] and more than 30 other passenger car and light truck tires. The company also pioneered environmentally friendly tires, including 'Green Hive' tires.[4]
Nexen has been a sponsor of Manchester City F.C. since 2015. Nexen became Manchester City's first sleeve sponsor in 2017. The sleeve sponsorship was extended to the men's training kit, Manchester City W.F.C.'s kit for all domestic competition and Manchester City Esports kit in 2020.[5]
Fredric Aasbø was a Nexen-sponsored competitor in Formula D, finishing runner-up in 2016, 2017, 2018 and 2019. Other notable Nexen drifters include Ken Gushi (2016-2017, 2021-2023), Tanner Foust (2016), Chris Forsberg (2018-2020), Trenton Beechum (2017-present),and Ryan Tuerck (2018).