Nexen Tire Releases First Sustainability Report

Nexen Tire, a leading global tyre manufacturer, is pleased to announce the publication of its first Sustainability Report. The report outlines the company’s sustainable practices and environmental, social, and economic performance in 2019.

Nexen Tire’s 2019/20 Sustainability Report has been published to provide shareholders with consistent and transparent information, highlighting the progress and long-term commitment to its sustainable practices. The report is based on standards of the Global Reporting Initiative (GRI), the United Nations Sustainable Development Goals (UN SDGs), and has been verified by the Korea Management Registrar (KMR), a third-party assurance institution.

Nexen Tire has three core values – Challenge, Creativity, and Collaboration – to achieve its corporate philosophy. The Sustainability Report includes the company’s financial performance under the International Financial Reporting Standards (IFRS), as well as corporate ethics, labour and human rights, EHS (environment, health and safety), and supplier responsibilities based on the company’s CSR standards.

In addition, Nexen Tire enhanced its CSR policy for purchasing natural rubber from regions including Southeast Asia and Africa by joining the GPSNR (Global Platform for Sustainable Natural Rubber). The company has also been participating in the Carbon Disclosure Project (CDP) in an effort to manage and reduce its impact on the environment. For instance, in 2019, Nexen Tire was able to reduce the waste generated from two of its major plants in Korea and recycle resources at a high rate of 97.2%.

“Based on our 78 years’ experience, we are committed to implementing CSR activities and creating social value through continuously innovating and challenging ourselves,” said Travis Kang, Global CEO of Nexen Tire.

The 2019/20 Sustainability Report is available for download on the Nexen Tire website at

http://www.nexentire.com/international/company/csr_report/.

About Nexen Tire

Nexen Tire, established in 1942, is a global tyre manufacturer headquartered in South Korea. Nexen Tire, one of the world’s fastest growing tyre manufacturers, currently interacts with approximately 150 countries around the world and owns four manufacturing plants – two in Korea (Yangsan and Changnyeong) and one in Qingdao, China. Another plant in Žatec, the Czech Republic also began operation in 2019. Nexen Tire produces tyres for passenger cars, SUVs, and light trucks with advanced technology and excellence in design. Nexen Tire supplies OE tyres to global car makers in various countries around the world. In 2014, the company achieved a grand slam of the world‘s top 4 design awards for the first time amongst the various tyre makers in the world.

For more information, please visit https://www.nexentire.com/international/

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