[Public Voices]Exports Driven by Challenge, Industrial Complexes Opening Doors to the Global Market

"Industrial Complex Export Fair:
A Catalyst for Opening Doors to the Global Market"

Wonhae Lee, CEO of Daemo Engineering and Chairman of the Global Leading Companies Association

On September 14, the "Industrial Complex Day" Export Fair will bring together companies from industrial complexes across the nation in one place. As we prepare to share the year's export achievements and explore new opportunities in these industrial complexes—the very heart of Korea's manufacturing sector—I would like to reflect on my experiences as an entrepreneur who has pioneered overseas markets over the years.

When I established the company in late 1989 and embarked on the localization of excavator attachments, I did not have much confidence that we could enter the global market with our own technology. Back then, Korea's construction equipment industry was highly dependent on Japanese technology, and much of the essential technological knowledge was treated as proprietary and not shared. Confronting this reality, I set a goal to introduce products made with our own hands to the world, and started with the localization of each component, one by one.

The memory of our first export remains vivid to this day. In 1990, we took our first steps toward overseas expansion by bringing about 100 copies of our Korean-language catalog—now labeled with English stickers—to the world's largest construction equipment exhibition in Munich, Germany. As a small business at the time, we could not afford our own exhibition booth, so we attached English stickers to our Korean catalogs and either placed them at other companies' booths or handed them directly to visitors. Despite these efforts, there were no immediate results.

"Daemo Engineering today was built on trust from the very start"

However, three years later, we were contacted by an Australian company. They said they had kept the catalog they received at the exhibition, and had watched Daemo Engineering's growth. Although it was a small order worth about $10,000, that trust became the starting point for what Daemo Engineering is today.

Since then, we have established local subsidiaries in Europe, the United States, China, and India, and began targeting the global market in earnest. Entering the Indian market especially brought home a valuable lesson: pioneering overseas markets is not just about selling products—it is about building trust. By going beyond simply delivering goods—establishing local subsidiaries, providing training, after-sales service, and supplying parts—we became the No. 1 brand in the Indian market. Overseas customers seldom purchase new products immediately; they scrutinize actual usage cases and assess the company and brand through the feedback of others in the market. The perseverance to keep knocking on the door during that waiting period is ultimately the key to opening new markets.

In this process, the roles of industrial complexes and public institutions cannot be overstated. With support from the Korea Industrial Complex Corporation, we were able to co-develop products that reflected the needs of major North American clients and local markets. Through the Banwol-Sihwa Mechatronics Cluster, we met directly with overseas companies, gained an understanding of their demands, and were able to clarify directions for cooperation. There are clear limitations for small and medium-sized enterprises trying to find overseas customers using only their own resources. Properly leveraging support for exhibition participation, market research, and buyer sourcing can reduce trial and error significantly.

"Industrial Complexes and Public Institutions: The Foundation for Reducing Trial and Error"

This is why the Industrial Complex Day Export Fair is so meaningful. This is not a stage for individual companies to boast of their achievements, but rather a venue where firms preparing for export can share experiences and connect with public institutional support programs. Even knowing that opportunities open only when you face challenges head-on without fear, it is not easy for companies to knock on those doors alone; occasions like these therefore become genuine stepping stones.

Now, as chairman of the Global Leading Companies Association, I hope that even more companies from industrial complexes will take their first steps toward the global market through opportunities like this. The journey of Daemo Engineering is not special because it is unique to us, but because the very process of taking on challenges and building trust is a path open to anyone. I hope industrial complexes will provide unwavering support along this path, and that this export fair will become a catalyst opening the doors to the global market for more companies.

Wonhae Lee, CEO of Daemo Engineering and Chairman of the Global Leading Companies Association

This content was produced with the assistance of AI translation services.