Daedong, First in Agricultural Machinery Industry to Receive '300 Million Dollar Export Tower' Award

Exported to 70 Countries, Recognized as the 'K-Agricultural Machinery' Icon
Approximately 60% of Total Sales Generated Overseas

Daedong announced on the 10th that it received the '300 Million Dollar Export Tower' award at the 58th Trade Day ceremony. Photo by Daedong

[Asia Economy Reporter Kim Heeyoon] Daedong announced on the 10th that it received the '300 Million Dollar Export Tower' award at the 58th Trade Day ceremony.

Daedong became the first in the industry to receive this award following the 100 Million Dollar Export Tower (2008) and the 200 Million Dollar Export Tower (2014). Daedong explained that it achieved overseas exports of 386 million dollars, a 47% increase in the second half of 2020 and the first half of 2021, by maintaining steady growth in major markets such as North America, Europe, and Australia, leading to the award.

Having targeted overseas markets since the 1980s, Daedong sells its agricultural machinery brand KIOTI in 70 countries, generating 60% of its total sales from abroad. In particular, in North America, the world's largest agricultural machinery market, retail sales have increased by an average of 20% annually over the past five years, bringing Daedong close to entering the top 3 in the small and medium-sized tractor segment.

Won Yoohyun, CEO of Daedong, said, "Daedong's KIOTI has become synonymous with 'K-agricultural machinery' in overseas markets including North America, bringing us the joy of growth and awards." He added, "Through future businesses such as smart agriculture and smart mobility, we will continue to achieve new growth domestically and internationally, continuously creating Daedong's economic and social value."

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