Daedong's Small Construction Equipment Business is Thriving, As It Recently Signed a Contract with Hyundai Genuine
Daedong Expects to Supply 1,900 Units and Achieve Sales of More than KRW 70 Billion by 2029
Daedong's Small Construction Equipment Business is Thriving, As It Recently Signed a Contract with Hyundai Genuine
- Daedong has signed a supply contract with Hyundai Genuine for small construction equipment SSL & CTL, following a contract with Hyundai Construction Equipment.
- The estimated total sales are expected to exceed KRW 200 billion by 2029, and the company plans to increase its investment to become a comprehensive equipment brand.
- The company aims to expand its product line-up and secure dealers specializing in construction equipment in overseas markets, particularly in North America.
Daedong signed a skid-steer loader (SSL) supply contract with Hyundai Genuine, laying the foundation for its small construction equipment business.
Daedong, a leading company in future agriculture and the parent company of Daedong Group, (co-CEOs Jun-Sik Kim and Yu-Hyun Won) announced that it signed a small construction equipment supply contract with Hyundai Genuine. The contract period is from February 2023 to March 2029. During this period, approximately 1,900 units of two models of small construction equipment SSL will be supplied and sales of over KRW 70 billion are expected.
At the end of last year, Daedong signed a small construction equipment supply contract with Hyundai Construction Equipment, with sales expected to exceed KRW 128 billion by supplying more than 3,000 units of SSL & CTL products from 2022 to 2029. This year, Daedong signed another contract with Hyundai Genuine to supply SSL products for HS80V (66 horsepower) and HS120V (73 horsepower) which will be sold in Korea. Skid-steer loaders (SSL) and compact track loaders are compact and lightweight construction equipment (CCE) used to transport aggregates, soil, and grass piles. These are mainly used in small-scale construction sites or rural areas in Korea, while in North America, they are used for facility management of country houses or private farms as part of general construction equipment (GCE).
Daedong plans to continuously strengthen investments to grow as a top-tier comprehensive equipment brand, expecting total sales of more than KRW 200 billion by 2029 with SSL and CTL supply contracts with Hyundai Construction Equipment and Hyundai Genuine. In line with this plan, it will add product lineups such as mini track loaders (MTL) and mini excavators (MEX) and accelerate the recruitment of dealers specializing in construction equipment, mainly in the North American market.