Daedong Industrial, "Strong Business Performance Despite COVID-19"... Operating Profit of 18.8 Billion KRW in Q1 This Year

Daedong Industrial 'Tractor' New Product

[Asia Economy Reporter Kim Daeseop] Daedong Industrial announced on the 18th that its separate basis sales and operating profit for the first quarter of this year reached 182.5 billion KRW and 18.8 billion KRW, respectively.

Daedong Industrial's sales and operating profit for the first quarter of this year increased by 27.6% and 152.6%, respectively, compared to the same period last year. In particular, overseas business in the first quarter achieved sales of 82.3 billion KRW, marking a 73.9% increase compared to the same period last year.

This improvement in business performance was influenced by corporate structural improvements such as the mid- to long-term vision and organizational culture initiated early this year, strengthened non-face-to-face marketing activities using platforms like YouTube, and sales of new products including the straight autonomous driving rice transplanter and tractors equipped with automatic transmission systems. Additionally, overseas sales increased as the growth of Daedong Industrial's export brand 'Kioti' continued in the North American market.

Won Yuhyun, CEO of Daedong Industrial, said, "By strengthening market monitoring and responding strategically, we were able to achieve good results even in the global agricultural machinery market, which was contracted due to the pandemic. In the second half of the year, we will further strengthen non-face-to-face marketing, aggressively target the market by introducing new service programs domestically and launching new eco-friendly tractors that comply with European environmental regulations overseas, and create good outcomes."

This content was produced with the assistance of AI translation services.