Daimler Truck and Hyosung Group's subsidiary FMK announced on the 14th that they have established a strategic joint venture to serve as domestic importers (official importers).
The Mercedes-Benz brand trucks and buses sold by Daimler Truck entered the Korean market for the first time in 2003. They currently sell medium, large, and special trucks in the country.
This transition to an importer system is part of the company's customer-centric strategy. Daimler Truck has been establishing dedicated regional centers for commercial vehicles in major countries worldwide since 2016 to strengthen relationships with local markets and customers.
FMK is a 100% subsidiary of Hyosung Group and has been responsible for the official import of the Italian premium cars Ferrari and Maserati since 2007. This collaboration has allowed them to expand their business scope into the commercial vehicle sector.
The establishment of the joint venture between the two companies is expected to be finalized after going through the approval process with the relevant authorities.