Global Market Targeted Future Technology Innovation: 70-Year Vision Declaration
[Asia Economy Reporter Kim Cheol-hyun] Global agricultural machinery specialist Dongyang Moolsan Enterprise has changed its name to TYM. The Korea Federation of Medium-sized Enterprises announced on the 16th that member company Dongyang Moolsan Enterprise unveiled the official corporate identity (CI) of 'TYM' as a global maker ahead of its 70th anniversary in 2021.
The new name TYM, using the English initials of Dongyang and Moolsan, embodies the vision of "preparing for the next 70 years with new changes and technological capabilities," internalizing 70 years of excellence, and the determination to establish its status as a global agricultural machinery brand, the company explained. A representative of Dongyang Moolsan Enterprise said, "Changing the name after 70 years is a strong expression of our intention to progressively inherit the achievements of Dongyang Moolsan Enterprise as a traditional manufacturer and a symbolic and strategic choice for smooth communication in overseas markets."
Founded in 1951, Dongyang Moolsan Enterprise is a specialized company manufacturing and producing agricultural machinery such as tractors, combines, and rice transplanters. As of the 2019 fiscal year, it recorded sales of 617.3 billion KRW and employed 1,271 people. It has successfully entered over 40 countries worldwide, including major European countries such as Germany and Poland, where it signed export tractor supply contracts, as well as North America, the Middle East, and Africa. Starting next year, it plans to introduce various smart agricultural machinery, including autonomous agricultural machines.
Kim Hee-yong, chairman of Dongyang Moolsan Enterprise, stated, "Despite the COVID-19 situation, we have achieved overseas sales performance and are continuing our success by expanding export volume and sales by more than 30% compared to the same period last year in the second half." He emphasized, "We will make 2021, the 70th anniversary year, the first year of a new 70 years and strive to achieve the goals of entering the 'Top 10 in global agricultural machinery market share' and reaching 'sales of 1 trillion KRW.'"
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