Daedong Officially Enters Ukraine Agricultural Machinery Market Worth 1 Trillion Won

First Phase: 3-Year, 30 Billion KRW Wide-Area Tractor Distribution Agreement Signed

Daedong announced on the 21st that it has signed a regional exclusive distributor contract to supply tractors worth 30 billion KRW over three years with a general distributor that imports and sells agricultural machinery locally in Ukraine.

Since last year, Daedong has been promoting the Ukraine Agricultural Reconstruction Project and has been discussing cooperation plans with key local figures, including Senator Oleksandr Denysenko, a member of parliament for Odesa, the largest city in southern Ukraine, and a supervisory committee member of the Development Agency. As a result, a pilot contract was signed in June this year to supply 10 tractors to Company A.

Daedong is signing a general agency contract to export tractors to Ukraine and taking a commemorative photo. Provided by Daedong

Since then, the performance and quality of the products, diverse agricultural machinery lineup, and systematic parts service response have received positive evaluations from Company A and local farmers. Consequently, the initial regional exclusive distributor contract for tractors worth 30 billion KRW has been officially signed. Daedong will supply products to Company A starting this year. Full-scale sales will begin early next year, and the business will continue to expand, with plans to extend the business scope to surrounding Central Asian countries based in Ukraine in the mid-term.

Senator Oleksandr Denysenko said, “Ukraine is currently in a situation similar to Korea in the 1940s and 1950s, and we expect to achieve agricultural restoration and development through Daedong’s agricultural machinery,” adding, “We want to strengthen partnerships in various fields of future agriculture that Daedong is promoting.”

Daedong’s Group Management Director Kwon Ki-jae stated, “We expect to quickly enter the market by partnering with a professional general distributor that has extensive experience in agricultural machinery distribution and a dealer network within Ukraine,” and added, “Based on Daedong’s experience and know-how in pioneering new overseas markets, we will prepare all necessary matters for local market penetration to achieve both Daedong’s overseas growth and Ukraine’s agricultural reconstruction.”