News & VideosNEWS

Recent news about Daedong, the future of agriculture

  1. HOME
  2. News & Videos
  3. NEWS

Daedong Mobility signed a contract with Kakao Mobility for the mobility business

2022-08-17 | views 885

“Establishing collaboration system combining mobility production and platform technology”


-Daedong Mobility signed a contract with Kakao Mobility for the mobility partnership and in the form of acquisition of new stocks, worth an investment of KRW 10 billion
-Collaboration on both corporations' mobility businesses in general, development of joint technology, and progress on the mass production project 
-Forming a commercialization committee and collaborating on joint research to provide Daedong Mobility SaaS, such as remote control and automatic driving


A smart mobility specialized corporation, Daedong Mobility (CEO Yu-Hyun Won), a subsidiary corporation of Daedong Group, announced on the 17th that they had signed a contract with Kakao Mobility (CEO, Geung-seon Ryu) for a KRW 10 billion worth of investment and mobility business partnership in the form of the acquisition of new stocks allocated to a third party, in order to buckle down into the last-mile market.


Headed by Daedong Mobility, Daedong Group is moving forward with the agricultural/non-agricultural smart mobility business through expanding five basic operation platforms for ①miniature, ②small, ③medium, ④large, and ⑤E-motorcycle, and is actively developing products and key technologies for smart mobility, such as automation, electrification, and intellectualization, in collaboration with KAIST. In addition, in the first quarter of this year, they concluded a comprehensive business partnership with Kakao Mobility on the BSS (Battery Swapping System) electric motorcycle business. 


Based on this contract, both corporations agreed to strengthen their collaboration in the mobility industry in general in order to develop joint technology and work on mass production projects, to create mutual synergy effects, and to increase profits for both parties. Also, they decided to form a "commercialization committee(tentative name)’ consisting of key executives of each corporation to facilitate the partnership through sharing information on the development of new mobility products and having periodical discussions on how to cooperate mutually. Additionally, Kakao Mobility had decided to invest KRW 10 billion in the issuance of Daedong’s new stocks in a third-party allocation method and concluded a related contract.


In this regard, Daedong Mobility will consult closely with Kakao Mobility through the commercialization committee on adopting the mobility service software, SaaS (Software as a Service), including remote control, automatic driving, and infotainment for cars, which would work with the last-mile mobility they are developing, such as BSS type electric motorcycles specialized for delivery, 0.5 ton electric trucks for cargo delivery, and LSV (Low Speed Vehicle) for passenger transportation. Also, centering around the new plant in Daegu national industrial complex, they will establish the system to manufacture and supply these products to Kakao Mobility, and provide them in the domestic market as soon as possible.


Through this contract, Daedong Mobility is expecting to provide last-mile mobility stably and quickly to the market and to strengthen their brand power as a mobility business corporation. They will also establish an off-line center for the sales and A/S of electric motorcycles and benchmark the customer service expertise of the parent corporation, Daedong Co.'s agency network, and the advanced platform operation experience of Kakao Mobility, resulting in creating a synergy to provide customers with distinct mobility remote control and management services.