Daedong makes entry into Ukraine
Daedong from Korea signed a contract with “company A” from Ukraine, distributor of ag machinery in this country. The agreement includes supply of Daedong tractors in the 100-140 horsepower range, worth KRW 30 billion (USD 21 million) over the next three years. Since the year 2023, Daedong has been discussing plans to work with key […]
Daedong from Korea signed a contract with “company A” from Ukraine, distributor of ag machinery in this country. The agreement includes supply of Daedong tractors in the 100-140 horsepower range, worth KRW 30 billion (USD 21 million) over the next three years.
Since the year 2023, Daedong has been discussing plans to work with key local officials in Ukraine to promote the Ukrainian agricultural reconstruction project. Following these negotiations, Daedong signed a pilot contract with company A to supply 10 PX/HX tractors in the 100-140 horsepower range to test on the local market.
Last August, these key officials, including Senator Denysenko, visited the Daedong works in Korea. Onwards, Daedong tractors were shipped to Ukrainian farmers last October. Daedong engineers also taught company A engineers how to service Daedong’s tractors. This turned out positively, which encouraged company A to sign the first contract to distribute Daedong tractors in Ukraine.
Last November, an official delegation from Ukraine visited the Daedong key facilities in Korea, including the Seoul Head Office, production plants and research institute. Also they tested tractors in the field. Moreover, in order to promote the sales of Daedong tractors, the company agreed to work together in developing a local dealer network in Ukraine, and help the Ukraine government in terms of financing to support farmers in purchasing. Company A will start selling Deadong tractors early next year and continue to expand its business thereafter. Ukraine is aimed to serve as a local hub to also cover neighboring countries in Central Asia over the medium term.
