Favoritism in Policy? Skewed Competition in Korea’s Commercial Vehicle Market

While the Korean government promotes a shift from diesel-powered medium and heavy-duty trucks and buses to eco-friendly electric and hydrogen alternatives with generous subsidies, critics argue that regulatory frameworks disproportionately benefit Hyundai Motor. Industry stakeholders warn that such tailored systems may weaken overall competitiveness by creating an uneven playing field in the commercial vehicle sector. Read more, Click here

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ISUZU Expands Special-Purpose Lineup Beyond Tippers

CURO Motors, Korea’s official ISUZU truck distributor, is hosting a two-month nationwide roadshow showcasing various special-purpose vehicles based on its ELF and FORWARD platforms. From recycling collectors to refrigerated and tipper models, the campaign emphasizes ISUZU’s flexibility and commitment to Korea’s evolving logistics needs.Read more, Click here

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Truck Market Sees Sharp Downturn, Except for 25.5-Ton Tippers

New truck registrations in Korea fell 10.4% year-over-year in the first half of 2024 across four major categories. Korean domestic trucks dropped 9.1%, while imported trucks saw a steeper decline of 16%. The only bright spot: 25.5-ton tippers maintained modest performance while other segments—including tractors, cargo, and mixer trucks—saw double-digit declines.Read more, Click here

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Hyundai & Kia Large Buses See Delivery Delays of Up to 3 Years

Korea’s passenger transport companies are struggling with extreme delays in receiving new large express buses. As the expiration of COVID-era vehicle extensions converges with strong fleet replacement demand, customers are facing wait times of up to three years for Hyundai and Kia models. These bottlenecks are delaying route launches and forcing older buses to remain in service.Read more, Click here

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“Customer Trust Comes From Standing by the Product,” Says MAN's Sales Leader

“No truck is perfect. What matters is how the brand responds when issues arise,” says Dae-Won Ahn, the top-selling branch manager at MAN Truck & Bus Korea. With over 300 trucks sold in five years, Ahn is known for his no-zero-months mindset and detailed customer care. We visited MAN’s headquarters in Yongin to learn how Ahn built long-term customer trust—one sale at a time.Read more, Click here

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27T Tippers Face Extinction as Demand Collapses

Once seeing annual demand of around 50 units, Korea’s 27-ton tipper truck segment has virtually collapsed, with only five units sold in the first half of 2024. The decline is linked to a shift in logistics pricing practices in the construction industry, where volume-based rates are disappearing. Hyundai’s XCIENT 27-ton model has halted sales, leaving Scania as the last manufacturer offering a tipper in this category.Read more, Click here

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Korean Domestic Tractors Gaining Ground Amid Regulatory Changes

Following the end of Korea’s Safe Freight Rates Act, the tractor market has entered a new phase. Although previously dominated by imports, Korean domestic tractor brands are gaining momentum and increasing their market share. Today, tractors are used for commercial purposes in 88% of Korean domestic units and 97% of imports. The potential reintroduction of the freight rate law by the new administration is drawing fresh attention to this sector’s growth potential.Read more, Click here

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Korean Domestic Electric Buses Up to 15% Pricier Than Imported Models

As the shift toward eco-friendly electric and hydrogen buses accelerates, recent data shows that Korean domestic medium and large electric buses are priced up to 15% (around KRW 51 million) higher than imported alternatives, mainly from China. According to the KAIZU Data Research Institute, medium-sized buses (over 9 meters) saw a 28% sales drop, while large-sized models (over 11 meters) increased by 29.6% year-over-year. Despite the differing sales trends, transaction prices for both Korean domestic and imported electric buses rose between 1.6% and 2.9%. The analysis covered only standard city and express buses and excluded subsidies and specialty models.Read more, Click here

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No Subsidies for Medium and Heavy EV Trucks Why It’s a Problem

Korea’s EV subsidy program currently favors light-duty electric trucks and buses but excludes medium and heavy duty electric trucks, which contribute the most to transport emissions.Despite being ready for market launch, brands like Volvo Trucks Korea and Tata Daewoo Mobility remain sidelined due to the lack of financial support.Industry voices warn that the current subsidy policy is stifling the growth of the eco-friendly commercial vehicle sector at odds with Korea’s RE100 and net-zero commitments.   Read more, Click here

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Environment Ministry Seeks to Boost Domestic Electric Bus Adoption

On July 30, Vice Minister Keum Han seung of Korea’s Ministry of Environment visited a Seoul-based bus operator to inspect electric bus operations and charging infrastructure.The visit also included a roundtable with industry stakeholders to discuss ways to accelerate adoption of domestic electric buses.As part of the government’s broader decarbonization and transport electrification policy, the initiative aims to enhance market competitiveness and infrastructure readiness.   Read more, Click here

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