Nexen Tire officially opened its central research institute, “THE NEXEN univerCITY”, which will serve as the driving force for the company’s future growth.

The grand opening ceremony was held on Tuesday, April 30, in Seoul, Korea. Over 300 people attended the ceremony, including Nexen Tire Chairman Kang Byeong Jung, Nexen Tire Global CEO Travis Kang, the Chairman of Korea Employers Federation Sohn Kyung Shik, the Chairman of Federation of Middle Market Enterprise of Korea Kang Ho Gab, executives and staff members of Nexen Central Research Institute.

Nexen Tire has invested KRW 200 billion (230,819,960 CAD) over two years to develop the building which sprawls over 57,000 sq m with eight floors above and two floors underground. Located at the Magok Industrial Complex in Seoul, the building contains both research and business complexes.

Designed as an open innovation environment, the workspace has been created to maximize concentration and teamwork. With the aim of developing smarter technology, some of the facilities available are a research and development (R&D) centre for predicting and implementing optimal performances such as OE/RE product manufacturing, AI technology and virtual tire technique, a performance research centre to evaluate tire and vehicle performance, and a material research centre for analyzing diverse nano and macro dimensions on various materials.

Nexen Tire intends to advance its R&D capabilities with the establishment of these facilities. It seeks to do so by adapting quickly to the changing market as well as responding quickly to the specific demands of the global and local automotive industry. The Magok Central Research Institute will additionally function as the company’s R&D hub for its global and local R&D centres in the U.S., Yangsan, Changnyeong, Germany, the Czech Republic and China.

A combination of the concept of ‘Nexen Universe’ and ‘City’, ‘THE NEXEN univerCITY’ embodies the company’s core values—Challenge, Creativity, and Collaboration—as well as its business philosophy that showcases the extent of possibilities and values that Nexen can accomplish. The courtyard and multi-helix green roof are the key spaces in the building representing the company’s corporate culture that focuses on communication and cooperation. Tire tread patterns adorn the exterior of the facility. The lobby contains a 30 meters wide and 7 meters high media wall that showcases videos representing creative and artistic concepts. The building is an environment-friendly space, equipped with a solar power system, a cooling and heating ventilation ground system, and a green rooftop to prevent thermal heat damage. The Korea Energy Agency has provided the campus with a level 1 building energy efficiency rating certificate.

“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 tire industry by creating new changes and future values that no one has seen before.”

As the company celebrates its 77^th anniversary this year, it has completed the establishment of four global facilities. Besides the Magok centre, Nexen has expanded R&D centres in the U.S. and Europe. In a release by the company, NexenTire says that it has been able to establish infrastructure for the future growth of ‘Global Nexen’.