Nexen Tire
(Korean: 넥센타이어) Corporation is a tire manufacturer, headquartered in Yangsan, South Gyeongsang Province, and Seoul in South Korea. The company's name is reflected in the company slogan, "Next Century Tire." Established in 1942 under the name, Heung-A Tire Company, Nexen Tire Co. 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 name Nexen is a combination of two future-oriented words; next and century. In 2005, Nexen Tire was awarded a patent for the technology to manufacture rubber/stratified silicate nano-composite tires. Nexen's domestic market share increased from 8% to 20%, with annual sales exceeding $600 million. Nexen Tire currently exports to 120 countries. [2]