Daedong Industrial, No.1 in Agricultural Machinery, Plans to Drop 'Industrial' and Change Name to 'Daedong' After 73 Years

Purpose of Transforming Corporate Image as a 'Future Agriculture Leading Company'

Daedong Industrial announced on the 10th that it will change its company name to "Daedong" to strengthen its corporate brand. Photo by Daedong Industrial

[Asia Economy Reporter Kim Heeyoon] Daedong Industrial announced on the 10th that it is pursuing a company name change to strengthen its corporate brand.

Daedong Industrial was founded in 1947 in Jinju, Gyeongnam by the late founder Chairman Kim Samman, who launched the company under the banner of "serving the nation through agricultural mechanization." In 1962, it became the first domestic agricultural machinery company to produce and distribute powered cultivators, and in 1966, reflecting its leap as a comprehensive agricultural machinery company and the aspiration for mechanization of domestic agriculture, it changed its name to the current Daedong Industrial Co., Ltd.

Afterwards, Daedong Industrial, which was the first in Korea to distribute tractors, combines, and rice transplanters in the 1960s and 1970s, began exporting overseas in the 1980s and has since grown into a global agricultural machinery company exporting to more than 70 countries worldwide.

This year, Daedong Industrial presented the vision of a "future agriculture leading company" and established the Future Business Promotion Office with strategies and plans to realize "Precision Farming" aimed at maximizing agricultural productivity through autonomous agricultural machinery, smart agriculture solution services, and agricultural robots.

Daedong Industrial_New CI

On the other hand, the current company name was evaluated as having a stronger image of a traditional manufacturing company rather than that of a future agriculture leading company. While further enhancing the brand power of "Daedong," the company plans to remove "Industrial" and change its name to "Daedong (DAEDONG)" to shift to an image of a future agriculture company leading digital agriculture. Daedong Industrial explained that the agenda for the name change will be handled at the 74th regular shareholders' meeting next year.

First, the company carried out a C.I (Corporate Identity) renewal and unveiled it on the 1st. The renewed C.I reflects the corporate philosophy and values as an agricultural machinery company and embodies the will for challenge and change to expand into various agriculture-related fields such as autonomous agricultural machinery and agricultural robots to become a future agriculture leading company.

Chairman Kim Junsik of Daedong Industrial said, "For 73 years, we have led the domestic agricultural machinery market as 'Daedong Industrial' and advanced as a global agricultural machinery company. Now, we are pursuing a company name change to transform into a 'future agriculture leading company' aiming to become a 100-year-old company. Based on the competitiveness built over 73 years in the agricultural machinery industry, we will create future agriculture centered on 'Precision Farming' such as autonomous agricultural machinery and agricultural solution services."

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