Daimler Truck and Hyosung Group Affiliate FMK Announce Establishment of Strategic Joint Venture for Importer Role in Korea
May 22, 2025
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The partnership plans to take the level of customer experience to the next level by combining the strengths of both companies. The two companies aim to deliver new value to Korean customers by providing the nation's best network of technology, products, and services.
"We are very pleased to welcome Hyosung Group and FMK as joint partners," said Harald Schmidt, CEO of Daimler Truck Southeast Asia. "This collaboration will be an important milestone in further strengthening the Mercedes-Benz brand truck and bus position in the Korean market." Based on FMK's strong local expertise and deep understanding of the market, we are confident that we will be able to provide sustainable value to all of our customers, partners, and employees."
Kim Kwang-chul, CEO of FMK, said, "It is an honor to take on the role of an importer and stake in Mercedes-Benz's truck and bus in Korea," adding, "We have built a strong presence in various industries and markets based on our experience in importing world-leading automobile brands." We will further solidify our foundation through close cooperation with this Daimler truck," he said.
Mercedes-Benz-branded trucks and buses entered the Korean market in 2003, and Daimler Truck Korea, a commercial vehicle corporation, was established in 2012. The product line currently on sale in Korea consists of medium and large trucks and special vehicles imported from Germany.
The transition to the Importer system is part of a customer-centered strategy and aims to enable each business sector to focus more on the needs of customers. In addition, Daimler Truck has established regional centers dedicated to commercial vehicles in major regions around the world since 2016, further strengthening its relationship with local markets and customers.
FMK is a 100% subsidiary of Hyosung Group and has served as an official source of income for Italian premium car brands Ferrari and Maserati since 2007. In addition, FMK has focused on strengthening customer service infrastructure beyond simple imports and sales of vehicles and parts, contributing to improving the quality of the overall customer experience.
This strategic joint venture is a significant milestone for FMK to expand its business area beyond top-end passenger cars to the commercial vehicle sector. In particular, the collaboration with the Mercedes-Benz commercial vehicle brand, which is renowned for its quality, reliability, and robustness, reflects FMK's strong commitment to establishing itself as Korea's leading car importer.
The establishment of the joint venture will be finalized after the approval process of the relevant authorities.
Editor Song Moon-cheol mc.song@carguy.kr
This article was translated by Naver AI translator.
