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.

Nexen Tire was founded in 1942 as Heung-A Tire Company in Seoul, South Korea, by Park Ock Soo. The company was one of the first tire manufacturers established in Korea. In its early years, Heung-A Tire produced tires primarily for the domestic Korean market, serving the limited automotive industry that existed in Korea during and after World War II.

In 1956, the company became the first Korean tire manufacturer to export tires, marking the beginning of its international expansion. This early export activity established a foundation for the global distribution network that Nexen would build over the following decades.

The company changed its name to Nexen Tire in 2000, adopting a brand identity designed to appeal to international markets. The name "Nexen" combines "next" and "xenith" (zenith), reflecting the company's ambition to reach new heights in the global tire industry. The rebranding coincided with a period of accelerated international expansion.

Nexen opened its first overseas manufacturing plant in Qingdao, China, in 2005. The Chinese plant gave the company access to low-cost production capacity and proximity to the rapidly growing Chinese automotive market. In 2007, Nexen opened a new manufacturing facility in Yangsan, South Korea, which became the company's primary research and development center alongside its production operations.

In 2012, Nexen opened a manufacturing plant in Vietnam, further diversifying its production base across Southeast Asia. The Vietnamese plant allowed the company to serve ASEAN markets with reduced tariffs and shorter supply chains.

The company surpassed KRW 2 trillion in annual sales for the first time in 2019, reaching KRW 2.08 trillion. This milestone reflected years of steady growth in both original equipment and replacement tire sales, driven by expanded production capacity and new automaker contracts.

In 2023, Nexen began production at its European plant in the Czech Republic, marking the company's first manufacturing presence in Europe. The plant's second phase expansion was completed in 2025, increasing capacity to serve European automakers and replacement market distributors. The European plant has been a key driver of Nexen's recent revenue growth, as it allows the company to supply European customers without the shipping costs and lead times associated with Asian production.

In 2025, Nexen surpassed KRW 3 trillion in annual sales for the first time, reaching KRW 3.19 trillion. The company also extended its dividend streak to 27 consecutive years, confirming dividends of KRW 200 per common share and KRW 205 per preferred share. For 2026, Nexen has guided to revenue exceeding KRW 3.3 trillion, representing approximately 4% growth.