The origins of the company NEXEN TIRE CORPORATION dates back to 1942. At that time the company was known as HEUNG-A TIRE CO in South Korea. The company is also seen as the first Korean tire manufacturer. The NEXEN head office is located in the city of Yangsan, South Korea. The first NEXEN factory production of radial tires was inagurated in 1985 in the city of Yangsan. In the 2000s the company changed its name to TYRE NEXEN CORPORATION, a combination of the English words next and century. At the same time the company went public (KOSPI 200 index). Today NEXEN TIRE CO employs more than 2,000 employees and exports its tires in more than 120 countries around the world. The Korean manufacturer designs tires for all types of vehicles: passenger cars, 4x4s and utility vehicles. The tires' brand NEXEN is a direct competitor of KUMHO in South Korea. To give an insight, the turnover NEXEN exceeds $ 600 million.