NEXENTIRE

NEXENTIRE is the consumer-facing brand of Nexen Tire Corporation, a South Korean tire manufacturer headquartered in Yangsan, South Gyeongsang Province, with an additional headquarters presence in Seoul. The company traces its origins to 1942, when it was established as Heung-A Tire Company. It later operated under the name Woosung Tire before adopting the Nexen Tire Corporation name in 2000. The name Nexen combines the ideas of “next” and “century,” a concept reflected in the company’s “Next Century Tire” marketing line. The company’s core business is the development and manufacture of tires for passenger cars, trucks, sport-utility vehicles, and related light-vehicle applications. Its product proposition emphasizes a combination of safety, ride comfort, driving performance, and efficiency. The company has also pursued technology development in areas including ultra-high-performance tires, winter tires for light trucks and SUVs, and rubber formulations incorporating stratified silicate nanocomposite technology. A significant manufacturing milestone came in 1985, when the company dedicated a facility in Yangsan to radial-tire production. Radial construction became central to the company’s modern manufacturing base and helped support its subsequent expansion. In 2005, Nexen received a patent connected with the manufacture of rubber and stratified-silicate nanocomposite tires. By 2006, it had completed development work on new ultra-high-performance and winter light-truck/SUV tread patterns. Nexen expanded its production footprint outside South Korea with the opening of a manufacturing plant in Qingdao, China, in 2007. The expansion was intended to accommodate increased demand and strengthen the company’s ability to serve overseas customers. Reference material describes the company as exporting to approximately 120 countries and employing more than 2,000 people during the period covered by that material. It also reports growth in domestic Korean market share from 8 percent to 20 percent and annual sales exceeding 600 million US dollars, although the relevant reporting period is not specified here and the figures should not be treated as current. Brand visibility has been supported by sports partnerships. Nexen became a sponsor of Manchester City Football Club in 2015 and became the club’s first sleeve sponsor in 2017. The relationship was expanded in 2020 to include the men’s training kit, Manchester City Women’s Football Club’s kit for domestic competitions, and the club’s esports kit. The brand has also been associated with Juventus since 2023 and entered into a collaboration arrangement with FC Bayern Munich scheduled to begin in 2024. In motorsport, Nexen has sponsored drivers in Formula Drift, including Fredric Aasbø, Ken Gushi, Tanner Foust, Chris Forsberg, Trenton Beechum, and Ryan Tuerck. Within South Korea, the company’s competitive set includes Hankook and Kumho. Nexen Tire has also had a visible connection with Korean sports and media properties, including naming-rights sponsorship of the Nexen Heroes baseball club and a major-shareholder relationship with Korea New Network as described in the reference material. Its overall brand strategy combines tire engineering, manufacturing expansion, international distribution, and sports-based marketing.

Nexen Tire’s history begins in 1942, when the business was established in South Korea as Heung-A Tire Company. The company subsequently operated as Woosung Tire before adopting the Nexen Tire Corporation name in 2000. The Nexen name is formed from the concepts of “next” and “century,” and the company has associated it with the marketing expression “Next Century Tire.” The company’s transition toward modern tire manufacturing included the construction and dedication of a radial-tire production facility in Yangsan in 1985. This was an important step in building a manufacturing base for the tire formats used across contemporary passenger, truck, and SUV markets. The Yangsan operation remains associated with the company’s South Korean headquarters and production presence. During the 2000s, Nexen emphasized product engineering and capacity expansion. In 2005, it received a patent for technology related to rubber and stratified-silicate nanocomposite tires. The following year, it completed development of new ultra-high-performance and winter light-truck/SUV tread patterns. These developments reflected an effort to serve both performance-oriented applications and difficult seasonal conditions. Nexen’s first manufacturing expansion outside South Korea described in the reference material occurred in 2007, when it opened a plant in Qingdao, China. The facility was established to respond to rising demand and to support the company’s international supply capabilities. Reference material identifies exports to approximately 120 countries and describes the company as employing more than 2,000 people during the relevant period. It also reports a rise in Korean domestic market share from 8 percent to 20 percent and annual sales above 600 million US dollars, but does not provide a sufficiently precise reporting period for those figures. The company’s brand-building strategy has included extensive sports sponsorship. Nexen began sponsoring Manchester City in 2015 and became the club’s first sleeve sponsor in 2017. In 2020, the partnership was broadened to cover additional football and esports assets. Nexen was also associated with Juventus from 2023 and with a collaboration involving FC Bayern Munich beginning in 2024. In Formula Drift, Nexen-sponsored drivers included Fredric Aasbø, Ken Gushi, Tanner Foust, Chris Forsberg, Trenton Beechum, and Ryan Tuerck. Aasbø finished runner-up in the Formula Drift championship in 2016, 2017, 2018, and 2019 according to the supplied reference material. In the Korean market, Nexen has been connected with the Nexen Heroes baseball club through naming-rights sponsorship. The company has also been described as the largest shareholder of Korea New Network. Taken together, these activities show a brand that has developed from a domestic Korean tire producer into an internationally distributed manufacturer using technology development, overseas production, and high-profile sports partnerships to raise awareness.

1. 2007Qingdao manufacturing plant opens

   Nexen opened a manufacturing plant in Qingdao, China, to support increased demand and overseas production.

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2. 2006UHP and winter LTR/SUV pattern development completed

   Nexen completed development of new ultra-high-performance and winter light-truck/SUV tread patterns.

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3. 2005Nanocomposite tire technology patent awarded

   The company received a patent related to manufacturing rubber and stratified-silicate nanocomposite tires.

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4. 2000Company adopts the Nexen Tire name

   Woosung Tire changed its name to Nexen Tire Corporation. The company was also described as entering the KOSPI 200 Index futures market that year.

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5. 1985Yangsan radial-tire facility dedicated

   Nexen’s predecessor business dedicated a Yangsan facility for the manufacture of radial tires.

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6. 1942Business established as Heung-A Tire Company

   The company that later became Nexen Tire was established in South Korea under the name Heung-A Tire Company.

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A South Korean tire brand positioned around safety, comfort, efficiency, and performance, with additional emphasis on tire technology, international availability, and sports visibility.

• Passenger-car tiresPassenger-car tires

  Nexen’s passenger-car tire business serves ordinary road vehicles and is positioned around the combined requirements of safety, comfort, efficiency, and dependable everyday handling. The supplied material identifies passenger-car tires as one of the company’s principal product categories, but does not provide enough detail to identify a complete model-by-model range.

• Truck and SUV tiresTruck and SUV tires

  Nexen produces tires for trucks and sport-utility vehicles, including products developed for light-truck and SUV applications. These products broaden the brand beyond conventional passenger cars and address vehicles with different load, durability, traction, and road-use requirements.

• Ultra-high-performance tiresPerformance tires2006

  The company developed ultra-high-performance tire patterns as part of its 2000s product-engineering program. This category is associated with performance-oriented vehicles and emphasizes handling and driving response. The supplied material does not specify individual product names or launch dates.

• Winter light-truck and SUV tiresWinter tires2006

  Nexen completed development of winter tread patterns for light trucks and SUVs by 2006. These products are intended for seasonal conditions requiring additional cold-weather traction and control. Specific model names, markets, and technical specifications are not identified in the supplied material.

• Rubber and stratified-silicate nanocomposite tire technologyTire technology2005

  In 2005, Nexen received a patent for technology used to manufacture tires incorporating rubber and stratified-silicate nanocomposite materials. The patent represents a technology-development milestone rather than a separately named consumer product line.

• 2024FC Bayern Munich collaboration

  Germany · International

  Nexen entered into a collaboration arrangement with FC Bayern Munich, with the relationship scheduled to begin in 2024.

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• 2023Juventus sponsorship

  Italy · International

  Nexen began sponsoring Italian Serie A club Juventus, extending its football-marketing presence into another major European league.

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• 2020Expanded Manchester City partnership

  International

  The partnership was extended to Manchester City’s men’s training kit, Manchester City Women’s Football Club’s kit for domestic competitions, and the club’s esports kit.

  Outcome. The expansion gave Nexen exposure across multiple football and esports properties rather than only the men’s first-team shirt.

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• 2017Manchester City sleeve sponsorship

  International

  Nexen became Manchester City’s first sleeve sponsor, increasing the visibility of the tire brand on the club’s playing kit.

  Outcome. The sleeve arrangement became part of a broader continuing Manchester City partnership.

  Source
• 2015Manchester City sponsorship

  International

  Nexen began sponsoring Manchester City Football Club, establishing a high-profile football platform for international brand promotion.

  Outcome. The partnership subsequently expanded into sleeve, training-kit, women’s-football, and esports assets.

  Source
• Formula Drift sponsorship

  United States · International

  Nexen has sponsored Formula Drift competitors including Fredric Aasbø, Ken Gushi, Tanner Foust, Chris Forsberg, Trenton Beechum, and Ryan Tuerck.

  Outcome. The program associated the brand with performance driving and drifting. Fredric Aasbø finished runner-up in the championship in 2016, 2017, 2018, and 2019.

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• 2007Expansion into Chinese manufacturingStrategy

  The company cited increased demand and the need for additional production capacity.

  What changed. Nexen opened a manufacturing plant in Qingdao, China.

  Aftermath. The facility expanded Nexen’s manufacturing footprint beyond South Korea and supported its overseas distribution activity.

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• 2000Rebrand from Woosung Tire to Nexen Tire CorporationStrategy

  The company had operated under the Woosung Tire name before adopting a new identity based on the concepts of “next” and “century.”

  What changed. It changed its corporate name to Nexen Tire Corporation and promoted the “Next Century Tire” concept.

  Aftermath. The Nexen name became the basis of the company’s subsequent international tire-brand identity.

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• 2024Nexen announces collaboration arrangement with FC Bayern Munich

  The company was reported to have arranged a collaboration with German Bundesliga club FC Bayern Munich, with the relationship scheduled to begin in 2024.

  Campaign
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• 2023Nexen begins sponsorship relationship with Juventus

  Nexen was reported as a sponsor of Italian Serie A club Juventus.

  Campaign
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• 2020Manchester City partnership expands across training, women’s football, and esports

  The Nexen relationship with Manchester City was extended to the men’s training kit, Manchester City Women’s Football Club’s domestic competition kit, and the club’s esports kit.

  Campaign
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• 2017Nexen becomes Manchester City’s first sleeve sponsor

  Nexen expanded its Manchester City partnership by becoming the football club’s first sleeve sponsor.

  Campaign
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1. Nexen Tire