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Daedong Industrial Co. Ltd. was founded following the liberalization of Korea in 1947 by Sam Man Kim.  Daedong headquarters are based in Daegu, South Korea. Daedong is the leading Korean manufacturer of mechanized farming equipment.[1] It also produces engines for power generation and general industrial use.[2]

Daedong products sell under the brand name “Kioti” in North America.[3]


[edit] History

[edit] Historical Developments

Daedong was founded in 1947 as an ironworks company, producing handheld farming tools. It wasn’t until 1949 when Daedong started making motors. Daedong eventually progressed to manufacture motorized farm equipment. In 1962 Daedong produced its first power cultivator.  Six years later, in 1968, the first tractor came off the production line. In 1982 Daedong produced its first combine.[4]

[edit] Growth

Daedong has expanded throughout the years by selling stock to raise funds and by forming subsidiaries:

  • 1973: founded Daedong Gear Co.
  • 1975: Daedong initial public offering
  • 1977: founded Hankook Chain
  • 1987: founded Daedong Metal Co. Ltd.
  • 1993: founded Daedong USA, and the Kioti brand [5]

[edit] Kioti vs. Kubota

The Kioti brand is often mistaken for Japanese tractor maker Kubota. Both companies use a distinctive orange paint and have very similar styling. In the early 1980s the two companies collaborated to produce the “Kubota 02″ product line. Daedong provided the transmission and the steel for the body. Kubota provided everything else. After the collaboration, Kubota accused Daedong of stealing engineering secrets. The conflict culminated in 2002 when Kubota filed a lawsuit against Daedong. The lawsuit was drawn out over five years, but finally settled out of court in 2007 for undisclosed compensation. Both companies still maintain very similar design styles.[6]

[edit] The Company Today

Daedong’s current Chairman and CEO is Sang-Soo Kim[7]. In 2007 Daedong had revenues of $384,042,383,000 KRW (US$289,096,736.78). [8]

[edit] Subsidiaries

Daedong Industrial Co. Ltd. is the parent company of four subsidiaries. Daedong Gear Co. manufacturers gears, shafts, and transmission. Hankook Chain Co. makes rollers, conveyers, and chains. Daedong Metal Co. performs iron casting for miscellaneous industrial purposes. Daedong USA is the company's American affiliate.[9]

[edit] Kioti

Daedong USA is based out of Wendell, North Carolina. It holds over a 10 percent share of the American tractor market.[10] Kioti equipment is manufactured alongside Daedong equipment in Korea, and then shipped to America for final assembly and warehousing. [11]

[edit] Equipment List

[edit] References

  1. Daedong. PFG Australia [April 17, 2009].
  2. DAEDONG INDUSTRIAL CO.,LTD. Google Finance [April 17, 2009].
  3. The “other” Orange Tractor. Kioti.. [April 17, 2009].
  4. History. DaeDong [April 17, 2009].
  5. History. DaeDong [April 17, 2009].
  6. The “other” Orange Tractor. Kioti.. [April 17, 2009].
  7. CEO Message. Daedong. [April 17, 2009].
  8. Stock Info. Daedong [April 17, 2009].
  9. Affiliates. Daedong [April 17, 2009].
  10. Daedong USA. DaeDong [April 17, 2009].
  11. The “other” Orange Tractor. Kioti.. [April 17, 2009].

[edit] External Links