Forklift Photos

Start-up of the forklift business

In the late 1960s, Korea's domestic forklift market was an open-import type market, when the Korea Machinery Co., Ltd. began to import assembled forklifts as part of a national industrial machinery expansion project. Sales of this initial equipment focused on state-run corporations, large business groups, and the armed forces. This led to a merger into Daewoo Heavy Industries Ltd. in 1976, and the Forklift Division opened business outlets throughout Korea to sell and service this equipment. In 1978, a forklift production plant was completed, and efforts were focused on developing products and improving quality through continuous technical training.

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Expansion of forklift exports

Operating as Daewoo, domestic forklift business, began in 1967 and grew to 90% market share in Korea. Entering the 80s, Daewoo's technological improvements and sales success positioned them for significant growth of their forklift business. Caterpillar Industrial Inc. of the USA, proposed a forklift joint-venture project in 1981 to address competitive pressures in the US material handling industry which significantly expanded Daewoo's forklift sales. In 1984, construction was completed on a new plant which helped establish the foundation for the manufacture of high added-value products for export. By 1993, the company established a worldwide sales network and began to export models, developed through in-house technology, as an independent brand. The company then acquired certifications from UL of the USA, CE of Europe, and ISO 9001 and ISO 14001, promoting expansion into overseas markets.