Who Owns Nexen Tires?
Nexen Tires is owned by Nexen Tire Corporation (KRX: 002350), a publicly traded South Korean tire manufacturer headquartered in Seoul. Founded in 1942 as Heung-A Tire, Nexen Tire reported revenue of KRW 3.19 trillion ($2.3 billion) in 2025, its first year exceeding KRW 3 trillion. The company manufactures tires in South Korea, China, and the Czech Republic and supplies OEM tires to Volkswagen, Audi, and BMW.
mid rangemass marketGlobalunisexsustainable manufacturingfuel efficiencyresponsible sourcingenvironmental compliancetire recyclingenergy efficiencyethical business practicesinnovation in sustainabilitycircular economysafety standardsOfficial Website
Who Owns Nexen Tires?
- Parent Company: Nexen Tire
- Ownership Type: Wholly owned
- Company Type: Publicly Traded
- Stock Ticker: Korea Exchange: 002350
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Nexen Tires | Nexen Tire | Wholly owned |
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Nexen Tires on AmazonHistory of Nexen Tires
- Founded: 1942
- Founders: Park Ock Soo
Nexen Tire was founded in 1942 in Yangsan, South Korea, as Heung-A Tire Company, one of the first tire manufacturers in Korea. The company initially produced tires for bicycles. After the Korean War, the company rebuilt and changed its name to Woosung Tire in 1956. As South Korea's automotive industry grew in the 1960s and 1970s, the company benefited from domestic demand. In 1999, the company was renamed Nexen Tire to reflect its global ambitions. The 2000s saw international expansion into Europe and North America. Nexen was selected as an OEM supplier for Volkswagen, Audi, and BMW. In 2018, the company opened its first European manufacturing facility in Zatec, Czech Republic. In 2025, Nexen Tire reported revenue exceeding KRW 3 trillion for the first time, marking five consecutive years of record revenue.
About Nexen Tire
What does Nexen Tire manufacture?
Nexen Tire manufactures tires for passenger vehicles, SUVs, light trucks, commercial vehicles, and specialty applications. The company produces all-season, summer, winter, and ultra-high-performance tires under the Nexen brand name.
Where is Nexen Tire headquartered?
Nexen Tire is headquartered in Seoul, South Korea. The company's primary manufacturing and research and development operations are located in Yangsan, South Gyeongsang Province, with additional plants in China, Vietnam, and the Czech Republic.
When was Nexen Tire founded?
Nexen Tire was founded in 1942 as Heung-A Tire Company in Seoul, South Korea. The company changed its name to Nexen Tire in 2000 as part of a rebranding effort aimed at international markets.
Is Nexen Tire publicly traded?
Yes, Nexen Tire is publicly traded on the Korea Exchange under ticker 002350. The company has paid dividends for 27 consecutive years and increased its dividend per share for three straight years as of 2025.
What is Nexen Tire's revenue?
Nexen Tire reported full year 2025 revenue of KRW 3.19 trillion (approximately $2.3 billion), up 12% from KRW 2.85 trillion in 2024. This was the first time the company surpassed KRW 3 trillion in annual sales. Operating profit was KRW 170.3 billion and net profit was KRW 151.2 billion.
Who is the CEO of Nexen Tire?
John Bosco (Hyeon Suk) Kim has served as CEO of Nexen Tire since 2022. Kim has focused on expanding the company's global operating framework, strengthening distribution competitiveness, and applying artificial intelligence and virtual technology in research and development.
Which automakers use Nexen tires?
Nexen Tire supplies original equipment tires to more than 30 global automakers, including Hyundai, Kia, Volkswagen, Fiat, Skoda, and Stellantis brands. OE contracts with these automakers provide volume stability and support brand credibility in the replacement market.
- Founded: 1942
- Headquarters: Seoul, South Korea
- Company Type: Publicly Traded
- Stock: Korea Exchange: 002350
- Revenue: KRW 3.19 trillion (FY2025)
- Employees: Approximately 7,000
Where Is Nexen Tires Made / Based?
- Headquarters: Seoul, South Korea
- Manufacturing / Operations: South Korea, China, Czech Republic
Nexen Tires Categories & Tags
Nexen Tires Sustainability & Ethics
Nexen Tires operates within Nexen Tire's sustainability framework, addressing environmental responsibility, ethical business practices, and social impact.
Sustainable Manufacturing: Nexen maintains sustainable manufacturing processes across all production facilities, including energy-efficient production systems, waste reduction programs, and environmental compliance systems. The company has adopted renewable energy and water conservation programs.
Fuel Efficiency: Nexen emphasizes fuel efficiency in tire design, creating products that reduce rolling resistance and improve vehicle fuel economy. Advanced tread design, lightweight construction, and innovative rubber compounds contribute to reduced carbon emissions.
Responsible Sourcing: Nexen emphasizes responsible sourcing of raw materials, including natural rubber and synthetic rubber. The company conducts supplier sustainability assessments and ethical procurement practices.
Tire Recycling: Nexen supports tire recycling initiatives and circular economy programs. The brand partners with recycling facilities and develops recyclable tire materials.
Safety Standards: Nexen maintains tire safety standards across all product lines, with rigorous testing protocols, quality control systems, and compliance with international safety standards.
Awards & Recognition
OEM Supplier Recognition: Nexen Tire's selection as an OEM supplier for Volkswagen, Audi, and BMW represents industry recognition of its quality and performance standards. OEM relationships require meeting stringent automaker requirements.
Record Revenue Achievement: Nexen Tire's five consecutive years of record revenue through 2025, culminating in exceeding KRW 3 trillion for the first time, demonstrates consistent business growth and market acceptance.
Dividend Consistency: Nexen Tire has paid cash dividends for 27 consecutive years through 2025, expanding the dividend for three straight years, demonstrating financial stability and shareholder commitment.
European Expansion: The 2018 opening of the Zatec, Czech Republic manufacturing facility represents a significant milestone in Nexen's European expansion strategy.
Nexen Tires Recalls & Controversies
Nexen Tires has maintained a strong operational record with no major product recalls significantly impacting its reputation. The brand faces normal industry challenges:
Competitive Market Pressures: Nexen operates in a highly competitive tire market, facing pressure from established manufacturers and budget brands. The company must continuously innovate while maintaining its value positioning.
Raw Material Price Volatility: Nexen faces challenges related to raw material price fluctuations, particularly for natural rubber and petroleum-based materials used in tire production.
Trade and Tariff Challenges: In 2025, Nexen faced product-specific tariffs that impacted operations. Despite these challenges, the company achieved record revenue, demonstrating resilience in navigating complex international trade environments.
Automotive Industry Cycles: Nexen is sensitive to automotive industry cycles, including vehicle production volumes and economic conditions that affect tire demand.
Nexen Tires Ownership: Pros & Cons
Advantages
- +Over 80 years of tire manufacturing experience since 1942
- +Five consecutive years of record revenue, exceeding KRW 3 trillion in 2025
- +OEM supplier for Volkswagen, Audi, and BMW
- +Manufacturing facilities in South Korea, China, and Czech Republic
- +Competitive pricing compared to premium tire brands like Michelin and Bridgestone
- +27 consecutive years of cash dividends through 2025
Considerations
- -Faces intense competition from larger global tire manufacturers
- -Mid-range brand perception limits premium market access
- -Raw material price volatility affects profitability
- -Sensitivity to automotive industry cycles and economic conditions
- -Trade and tariff challenges across global markets
Frequently Asked Questions About Nexen Tires
Sources & Further Reading
Competitors to Nexen Tires
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Kumho | South Korea | 1960 | Mass market | Global | All-ages | |
| Toyo Tire | Japan | 1945 | Mass market | Global | Unisex | |
| Michelin | France | 1889 | Premium | Global | All Genders | |
| Zhongce Rubber | China | 1958 | Mass market | Global | All-ages |
Learn More About Competitors
AutomotiveKumho Tires
Owned by Kumho Tire
South Korean tire manufacturer founded in 1960, with Qingdao Doublestar as largest shareholder at 45%. Produces tires for passenger vehicles, commercial vehicles, and motorsport applications globally.
tiresautomotive-tirespassenger-tires
AutomotiveToyo Tires
Owned by Toyo Tire Corporation
Japanese brand of automotive tires for passenger vehicles, commercial vehicles, and specialty applications, owned by Toyo Tire Corporation.
tiresautomotive-tirespassenger-tires
AutomotiveMichelin Tires
Owned by Michelin
French premium tire brand manufactured by Michelin, headquartered in Clermont-Ferrand, France. The Michelin brand was valued at $10.3 billion by Brand Finance in January 2026. Michelin reported sales of EUR 26.0 billion in 2025 and employs 122,600 people worldwide.
tiresautomotive-tirespremium-tires
AutomotiveWestlake Tires
Owned by Zhongce Rubber Group Co., Ltd.
International tire brand owned by Zhongce Rubber Group Co., Ltd. (ZC Rubber), China's largest tire manufacturer founded in 1958 in Hangzhou, with the Westlake brand introduced in 1995 for international markets covering passenger car, truck and bus, OTR, agricultural, and specialty tires; ZC Rubber completed its IPO on the Shanghai Stock Exchange (SSE: 603049) on June 5, 2025.
tiresautomotive-tirespassenger-tires
Competitive Analysis
Market Positioning: Nexen Tires competes with 4 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
Independent Alternatives to Nexen Tires
Looking for brands with different ownership structures? These similar brands are not owned by Nexen Tire, giving you alternative choices that support different corporate structures.
AutomotivecarVertical
Owned by CV Group (carVertical)
Lithuanian vehicle history company that generates VIN-based reports on used cars across 37 markets, operating as the private company CV Group.
vehicle-historyvin-checkused-cars
Privately Owned
carVertical is privately owned, unlike Nexen Tires which is under a publicly traded parent company.
AutomotiveHyundai
Owned by Hyundai Motor Group
South Korean automobile manufacturer known for its value proposition, quality improvements, and stylish designs in the global automotive market.
korean-carvalue-brandglobal-automaker
Privately Owned
Hyundai is privately owned, unlike Nexen Tires which is under a publicly traded parent company.
AutomotiveInterstate Batteries
Owned by Interstate Battery System of America
American battery distributor founded in 1952, specializing in automotive, commercial, and consumer batteries, headquartered in Dallas, Texas.
batteriesautomotive-batterieslead-acid-batteries
Privately Owned
Interstate Batteries is privately owned, unlike Nexen Tires which is under a publicly traded parent company.
AutomotiveKia
Owned by Hyundai Motor Group
South Korean automobile manufacturer known for sporty design and value positioning, part of Hyundai Motor Group.
korean-carvalue-brandsporty-design
Privately Owned
Kia is privately owned, unlike Nexen Tires which is under a publicly traded parent company.
AutomotiveIronman Tires
Owned by Hercules Tire and Rubber Company
Budget tire brand owned by Hercules Tire and Rubber Company, a subsidiary of American Tire Distributors, offering affordable tires for passenger vehicles, light trucks, and commercial vehicles.
tiresbudget-tiresautomotive
Privately Owned
Ironman Tires is privately owned, unlike Nexen Tires which is under a publicly traded parent company.
AutomotiveAutoNation
Owned by AutoNation, Inc.
America's largest single-brand automotive retailer, operating new-vehicle franchises, collision centers, and service operations under one national banner.
automotive-retailcar-dealershipsautonation
Publicly Traded
AutoNation operates independently without a large parent corporation.
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