Nexen Tire opens 'The Nexen UniverCITY', its newest research institute located at the Magok Industrial Complex in Seoul. The company said it has invested KRW 200 billion over two years to develop ‘THE Nexen univerCITY’ – a building over 57,000-square-meters with eight floors above and two floors underground – that includes research and business complexes.

The workspace has been designed as an open innovation environment to maximize concentration and teamwork. To help pave the way for smarter technology, various facilities include a research and development (R&D) center that can predict and implement optimal performances such as OE/RE product manufacturing, AI technology and virtual tire technique, a performance research center to evaluate the performance of tires and vehicles, and a material research center to analyze diverse nano and macro dimensions on various materials.

With the establishment of these facilities, Nexen TIRE plans to advance its R&D capabilities by responding quickly to the rapidly changing market as well as the particular demands of the local and global automotive industry. Furthermore, the Magok Central Research Institute will act as an R&D hub for its local and global R&D centers that are located in Yangsan, Changnyeong, Germany, the Czech Republic, U.S., and China.

‘THE Nexen univerCITY’ combined the concept of ‘Nexen Universe’ and ‘City’ that contains the company’s core values – Challenge, Creativity, and Collaboration – and its business philosophy that displays the infinite possibilities and values that Nexen can accomplish.

“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.”

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Nexen Tire opens 'The Nexen UniverCITY' research center in Seoul