Sales of domestic light commercial vehicles between 2-5 tons gvw dropped by 15% to 41,415 units in the fourth quarter of 2021 from 48,711 units a year earlier, with deliveries affected by supply-chain shortages. Full-year sales were down by 3.7% at 187,487 units from 194,791 units in 2020. 

The South Korean Ministry for Land, Infrastructure & Transport in late December 2021 announced that trials of hydrogen fuel-cell trucks in real logistics operating environments had begun to help determine accurately the full eco-system requirements before these vehicles are introduced commercially.  

Volvo Trucks Korea Co Ltd of Yongsan-gu, Seoul in February announced it plans to introduce a battery-powered heavy-duty truck onto the South Korean market in 2023, as it looks to strengthen its position as the leading imported truck brand in the country. 

Hyundai Motor Company (HMC) and Iveco Group have agreed to explore opportunities to collaborate in several key areas ranging from advanced vehicle technologies to joint component sourcing and mutual vehicle supply. Senior figures from both companies signed the MoU agreements in Seoul.

Forsee Power (Forsee) of Paris, France, has renewed its supply partnership agreement for battery cells with South Korean firm, LG Energy Solution (LG).

The two companies aim to mass-produce a series of hydrogen fuel-cell electric city buses for the South Korean market from 2023.

Hankook Tire & Technology, based in Seoul, South Korea, has showcased its airless i-Flex tyre concept at the Consumer Technology Association (CES) 2022 show in Las Vegas, Nevada, USA.

Electric vehicle maker Edison to buy bankrupt SUV-specialist Ssangyong Motor Corp.

Hankook Tire & Technology has announced it will take part in PROJECT TREE, a sustainability project aimed establishing the traceability of natural rubber using blockchain technology.

South Korea's fire truck maker, EnPlus to invest USD99m in EV manufacturing plant in the Philippines

The commercial vehicle market over 2 tons gvw in South Korea declined by over 10% to 53,323 units in the third quarter of 2021 after rebounding by over 14% to 59,303 units a year earlier.

EnPlus plans to invest the equivalent of USD99m in an electric vehicle manufacturing plant for the production of battery-powered "Jeepney" vehicles in the Philippines.