Daedong Surpasses 1 Trillion Won in Sales Last Year

32% Increase in Sales Year-on-Year, 12% Increase in Operating Profit

[Asia Economy Reporter Kwak Minjae] Agricultural machinery company Daedong announced on the 16th that it surpassed 1 trillion KRW in sales for the first time since its establishment last year. Daedong's consolidated sales for 2021 amounted to 1.1798 trillion KRW, and operating profit was 36.9 billion KRW, representing approximately 32% and 12% growth respectively compared to the previous year's 895.8 billion KRW and 33.1 billion KRW.

The company explained that it achieved growth in domestic and overseas markets by rapidly implementing digital transformation while actively promoting the three future agriculture businesses: smart agricultural machinery, smart mobility, and smart farms.

Daedong plans to strengthen its business competitiveness in smart agriculture centered on the 'Agriculture & Mobility Platform' company to be established domestically this year. It has secured Level 3 autonomous operation tractor technology and is focusing on collecting big data on crop growth for agricultural solutions through the Seoul smart farm.

Overseas, the strategy is to achieve double-digit growth in North America, Europe, and Australia. The company plans to enhance market dominance by launching new models of its core product line, small and medium-sized tractors ranging from 20 to 60 horsepower.

Won Yoohyun, CEO of Daedong, said, "Last year, we made history by surpassing 1 trillion KRW in sales by smartening our existing agricultural machinery business and establishing a foundation for new businesses in smart farms and mobility." He added, "This year, we will continue to rapidly innovate as a platform company for agriculture and mobility by enhancing digital capabilities such as artificial intelligence, the Internet of Things, and big data."

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