[Asia Economy Reporter Kwak Minjae] Daedong announced on the 9th that it received the '400 Million Dollar Export Tower' award at the '59th Trade Day' ceremony.
The Trade Day 'Export Tower' award ceremony is hosted by the Korea International Trade Association and sponsored by the Ministry of Trade, Industry and Energy. The award is given based on the export amounts from the second half of the previous year and the first half of the current year, recognizing companies that have contributed to pioneering overseas markets and increasing exports.
Daedong exported approximately 475 million dollars worth of tractors and other products to major markets such as North America, Europe, and Australia from July last year to June this year, becoming the first in the agricultural machinery industry to receive this award. This represents about a 23% increase compared to the same period in 2020. Daedong was also the first in the industry to receive the 100 Million Dollar Export Tower (2008), 200 Million Dollar Export Tower (2014), and 300 Million Dollar Export Tower (2021) awards.
Currently, Daedong operates local subsidiaries in the United States, Canada, Europe, and China, with a German office, selling products under its own agricultural machinery export brand KIOTI to 70 countries, earning about 63% of its annual sales from overseas.
Won Yoohyun, CEO of Daedong, said, "KIOTI has become synonymous with 'K-Agricultural Machinery,' which led to this award," adding, "We will not be complacent but will continuously pioneer overseas markets focusing on three future businesses: smart agricultural machinery, farms, and mobility."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
