Nexen Tire opens R&D hub in South Korea

Seoul, South Korea – Nexen Tire Corp. has inaugurated a 613,000-sq.-ft. central research centre in Seoul that will become the company's research and development hub for its R&D centres in the US, Europe and China.

Nexen invested $178 million (€160 million) throughout two years in the centre, dubbed "Nexen UniverCity," which is located within the Magok Industrial Complex in western Seoul.

The structure, which stands eight stories tall with two additional stories underground, houses both research and business complexes.

The workspace has been designed as an "open innovation environment" to maximise concentration and teamwork, Nexen said.

The company did not say how many employees will work at the new centre.

The centre, according to Nexen, houses R&D facilities that can predict and implement optimal performances such as OE versus replacement product manufacturing, artificial intelligence technology and virtual tire technique.

It also features a performance research centre and a material research centre to analyse diverse nano and macro dimensions on various materials.