Nexen Opens Global Hub for Research and Development

April 30, 2019

Nexen Tire Corp. has invested more than $171 million (200 billion KRW) and opened a 10-story building in Seoul to serve as its global hub for research and development. At the grand opening ceremony on April 30, 2019, the company said "the Nexen UniverCity is expected to be the driving force for future growth."

The company spent two years building the space, which houses research and business complexes in more than 613,000 square feet. It has an open design, meant to spark innovation and teamwork while maximizing concentration.

There's room to focus on smart technology, including a research and development center that can predict and implement optimal performances such as original equipment and replacement product manufacturing, artificial intelligence technology, virtual tires, a center to evaluate the performance of tires and vehicles, and a material research center to analyze diverse nano and macro dimensions on various materials.

Nexen says the facility will help it respond quickly to the changing market, as well as the demands of both the global and local automotive industry. Located in the Magok Industrial Complex, the center will serve as the hub for research and development efforts in Yangsan, Changnyeong, Germany, the Czech Republic, U.S., and China.

The Nexen UniverCity combined the concepts of Nexen's universe and city and encompassed the company's core values — challenge, creativity and collaboration — along with its infinite possibilities. "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. "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."

Kang was joined at the grand opening by Nexen Chairman Kang Byeong Jung, the Chairman of Korea Employers Federation Sohn Kyung Shik, the Chairman of Federation of Middle Market Enterprise of Korea Kang Ho Gab, and executives and staff members of Nexen Central Research Institute.

The space features a courtyard and multi-helix green roof. Tire tread patterns adorn the exterior of the building. In the lobby a huge media wall — more than 98 feet tall and 23 feet wide — shows videos that represent creative and artistic concepts. It's an environmentally friendly space, with solar power, a green rooftop to prevent thermal heat damage and a cooling and heating ventilation system in the ground. The building earned a level 1 building energy efficiency rating certificate from the Korea Energy Agency.

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