NEWS

-NEXEN Tire, selected No. 1 in the Korean Standards Association’s Korea Sustainability Index specialized in the tire category

NEXEN Tire (CEO Yi, Hyeon-bong - www.nexentire.com) secured the number 1 rank among the Korean tire brands in the ‘2010 Korea Sustainability Index (KSI)’ hosted by the Korean Standards Association.

NEXEN Tire announced on the 16^th, “NEXEN Tire took the 1^st rank in the KSI assessment hosted by the Korean Standards Association specialized in the tire category, beating out the competition” and added, We have realized a great achievement as the brand value got radically increased owing to the reinforced quality and customer service through the recent customer-oriented management in addition to the environment-friendly management and local community development. “

The assessment this time became the model that measured the implementation of CSR, which accessed the sustainability of an organization based on ISO 26000 (International standard of a business’ CSR). Also considering the sales, market scale, and current status of sustainability practice in each business type among 1,000 domestic businesses whose sales amount was within 1,000 ranks, 120 businesses from 31 business types were selected for the final assessment of KSI.

From the manufacturing business including general foods, petrochemical products, living goods, home appliances, automobile, shipbuilding, and tire, the rank was decided and in the tire category, NEXEN Tire gained the highest honor by beating out the domestic competitors.

A person interested in the Korean Standards Association said, “The KSI assessment model evaluates as to what extent a business understands the sustainability trend and how strategically a business reacts to such trend. Also, it assesses how well a business manages and improves the effects derived from its decision-making and management activity to the society and environment. That is the reason why the businesses that obtained the victory are thought to have the management stability as well as the great potential for future development.”

A person interested in NEXEN Tire said, “Our efforts made for the development of the local communities including the adoption of premium product warranty system, which has been practiced since 2008 for the first time in the market, provision of the best quality products to the customers based on strict quality management, environment-friendly activities, such as Clean Factory Movement, and creation of new work space through consistent investment activity have led to the attainment of highest honor realized this time.”

Vice-president Yi, Hyeon-bong of NEXEN Tire emphasized, “By further reinforcing not only the external growth through consistent investment but also the CSR activities including customer satisfaction, environment-friendly activities, and job creation, NEXEN Tire will be renewed as a super blue-chip company that will contribute to the sustainable development of the society.”

NEXEN Tire has realized radical external growth based on the expanded sales of high value-added products while gaining favorable response in the export market. Also, the introductions of new products, expanded distribution channel, and sports marketing have been connected to the great sales increase in the domestic market as well expecting more than 1 trillion won of sales this year.