[Featured Stock] TYM Expected to Play 'Nongsla' Role in Ukraine Agricultural Reconstruction... Aiming for First 1 Trillion Won Club Since Establishment

[Asia Economy Reporter Park Hyungsoo] TYM, a leading domestic agricultural machinery company, is showing strong performance. The news that Dmytro Senik, Ukraine's Deputy Foreign Minister, will visit Korea from the 6th to the 8th appears to have influenced the stock price.

At 10:18 AM on the 3rd, TYM was trading at 3,415 KRW, up 8.24% from the previous day.

On the previous day, Ministry of Foreign Affairs spokesperson Choi Youngsang stated in a briefing, "Dmytro Senik, Ukraine's Deputy Foreign Minister, is scheduled to meet with Lee Dohoon, the 2nd Vice Minister of Foreign Affairs, on the morning of the 7th." He added, "The two vice ministers will exchange views on the situation in Ukraine and discuss cooperation measures between the two countries in areas such as trade, investment, and development cooperation."

Since the war broke out in Ukraine in February due to Russia's invasion, the visit of a high-ranking Ukrainian government official to Korea is interpreted as reflecting Ukraine's interest in Korea's participation and support in reconstruction efforts.

Previously, Russian forces plundered large quantities of agricultural machinery and grain from the occupied areas in Ukraine.

TYM is actively expanding into overseas markets. The company plans to invest 20 million USD (approximately 25.3 billion KRW) to expand its production facilities to 13,223㎡ (about 4,000 pyeong) on a site of 82,644㎡ (about 25,000 pyeong) near Lomsie, Georgia, USA.

TYM recorded sales of 300.4 billion KRW and an operating profit of 36.2 billion KRW in the first quarter of this year. Expectations for improved performance have increased as exports of agricultural machinery to the North American region surged after COVID-19. The sharp rise in agricultural product prices following Russia's invasion of Ukraine has also strengthened forecasts of increased demand for replacing outdated equipment. TYM is expected to surpass the 1 trillion KRW sales mark for the first time in its history this year, reaching {$_1조1922억원 (1.1922 trillion KRW), a growth of over 40% compared to last year ({$_8415억원).