Nexen Tire on Track to Complete Central Research Institute in Seoul in First Half of 2019

Nexen Tire has announced that it is on track to complete construction of its Magok Central Research Institute in Seoul by the first half of 2019. The company will then have four such global bases. Nexen Tire has already expanded its research and development centers in the US and Europe by moving them to bigger buildings. In September last year, the company had relocated its European R&D center and sales and marketing divisions which were previously in separate facilities in Germany to a new purpose built facility. Nexen Tire had also completed construction of a new R&D center building in the United States in December of last year.

The company’s production facility in Zatec, the Czech Republic, has already started trial production of tires and will start commercial production shortly. The Zatec factory is expected to play a key role in Nexen’s future growth by producing 12 million tires on an annual basis.

Nexen’s Magok Central Research Institute is expected to become the company’s second growth base along with its plant in Zatec. The institute will cover a total floor space of 57,146 square meters and will be spread over 10 floors, of which eight floors will be above ground and two below. The research center will comprise an R&D center, a performance research center, and a material research center that will be engaged in activities like product design, forecasts, simulation and basic application research.

“The Magok Central Research Institute will serve as the company’s R&D hub that integrates and manages six domestic and overseas research institutes — the Yangsan Production Technology Research Institute and the Changnyeong Technology Research Institute in Korea, the European Technology Research Institute in Germany and three technology research institutes, each in the Czech Republic, the United States and China,” a Nexen Tire official said.