On the 15th, Daedong holds a ceremony to commemorate the shipment of Ukrainian tractors at the Daegu campus, where Vice President Lee Jong-soon of Daedong (7th from the left) and Ukrainian Member of Parliament Oleksandr Denysenko (6th from the left) are taking a commemorative photo with officials. /Courtesy of Daedong

Daedong's stock soared as it supplied tractor export volumes to Ukraine for the first time.

Daedong shares were traded at 12,270 won on the KOSPI market at 2:05 p.m. on the 16th, up 20.76% (2,110 won) from the previous day.

Daedong announced that it shipped 20 units of the medium to large PX/HX tractors to Company A, the general distributor of agricultural machinery in Ukraine. Daedong signed a regional distribution contract with Company A last November to supply 30 billion won worth of tractors over three years, and this is the first order volume.

To enter the Ukrainian agricultural machinery market, Daedong started the agricultural reconstruction project in 2023, previously supplying 10 units of tractors in the 100 to 140 horsepower range for pilot purposes last October.

Daedong plans to gradually expand its business in Ukraine from this year. The company also decided to actively participate in agricultural reconstruction in cooperation with the Ukrainian government and support the capacity building of local young farmers.

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