Nexen Tire has opened a new R&D hub ‘The Nexen univerCITY’ based at the Magok Industrial Complex in the Korean Capital Seoul. Nexan invested KRW 200 billion over two years to develop ‘THE NEXEN univerCITY’ – a building that spreads over 57,000-square-meters space area and includes research and business complexes.
“The Magok Central Research Institute really defines Nexen Tire’s growth DNA and its identity that has advanced quickly than any other company in the world, said Travis Kang, Global CEO of NEXEN TIRE.”
“We will carry out a pivotal and global role that will raise the value of the movement, shifting the paradigm in the tyre industry by creating new changes and future values that no one has seen before.”
The Institute will also act as an R&D hub for its local and global R&D centers that are located in Yangsan, Changnyeong, Germany, the Czech Republic, US and China.
In its 77th anniversary year, Nexen also completed its expansion of the R&D centers in Europe and the U.S. besides started the facility at Czech Republic.
With the establishment of these facilities, Nexen Tire plans to advance its R&D capabilities by responding quickly to the rapidly changing market as well as the particular demands of the local and global automotive industry.