Daedong-GS Global Signed MOU for Strategic Business Cooperation
‘Promoting Projects with Prospects and Successful Overseas Expansion’
Daedong-GS Global Signed MOU for Strategic Business Cooperation
- Introduce e-mobility or global agricultural machinery, and ‘smart farming’ cooperation business. Utilize both companies’ business networks.
- Examine the domestic supply, charging, and service network of electric motorcycles under development by Daedong Group
- Supply new and used agricultural machinery abroad. Maximize the effect of GS Global’s agricultural business in the market.
Daedong (CEO Jun-Sik Kim, Yu-Hyun Won), a leading future agriculture company, announced on the 25th that it has signed an MOU for strategic business cooperation with GS Global (CEO Young-Hwan Lee) to target the global market for smart agricultural machinery & mobility.
Daedong is expanding its future business from agriculture machines to three areas: smart farms, agricultural machinery, and mobility. GS Global has also been diversifying its new mobility business. With Daedong’s great product line-up and technology based on its three business areas, GS Global’s networks around the globe in 17 countries, and its expertise in market development, there is a great outlook, which has led to an MOU.
The two companies will cooperate on projects as outlined in the agreement: ①E-mobility, ②Global Agriculture Machinery, and ③Smart Farming. The ①E-mobility plans to utilize GS Group’s domestic networks in energy, distribution, and vehicle maintenance to supply e-mobility to Daedong Group’s electric motorcycle (e-scooter), LSV (Low-Speed Vehicle), and 0.5-ton electric truck. It also plans to establish e-mobility charging and service networks. Additionally, GS Global will help create operating models for the auto-driving golf carts and robot caddies currently under development to station them at golf courses. The two companies aim to promote and dominate the domestic market for the last mile and leisure mobility, eventually to have a presence in the overseas market.
②Global Agriculture Machinery project plans to supply new and used agricultural machinery in emerging countries. It includes Daedong’s agriculture machines such as tracker, harvester, rice transplanter, and tiller; GS Global’s international networks; and the two company's expertise in developing foreign markets. Because Daedong has experience exporting agricultural machinery to Myanmar and Angola, and GS Global is currently running agricultural-related businesses such as bioenergy, construction machinery, and agricultural machinery engines, there is a great synergy effect anticipated.
Lastly, the ③Smart Farming project aims to develop a construction model for a smart agriculture complex by utilizing Daedong’s farming techniques and GS Group’s greenhouse environment control system to offer consulting and construction services to local and international organizations and governments.