TYM, a specialized agricultural machinery company, is showing strong performance. It appears that the news of Ukrainian President Volodymyr Zelensky planning to announce 10 restoration plans next week is influencing the stock price.
As of 2 PM on the 15th, TYM is trading at 5,130 KRW, up 20.71% from the previous day.
According to foreign media, President Zelensky is preparing an 'internal restoration plan' covering areas such as defense, energy, economy, finance, regional development, and culture. The plan is scheduled to be announced next week. It is a vision concerning Ukraine's sustainability, including post-war reconstruction.
Earlier, on the 8th, TYM met with a delegation of Ukrainian parliamentarians to discuss cooperation on reconstruction projects. The Ukrainian parliamentary delegation plans to find companies capable of cooperation locally and communicate this to TYM through the embassy.
Member of Parliament Dmytro Pryputen said, "The tractors and implements donated by TYM have greatly helped Ukraine's reconstruction and the daily recovery of residents in the constituencies," adding, "Since agriculture constitutes a large part of Ukraine, we believe this will be a good opportunity for mutual cooperation with TYM in the agricultural machinery industry." TYM also decided to actively support tractor manufacturing parts and services through its planned European subsidiary and to continue cooperation for securing its own research and development capabilities in the mid to long term by collaborating with local companies.
Before Russia's invasion, Ukraine ranked among the top five globally in grain exports, including corn, wheat, barley, sunflower seeds, and rapeseed, which are raw materials for edible oils, and was considered a major food supplier to several impoverished countries in the African continent.
TYM is making a full-scale push into the European market. From the 6th to the 10th, it participated on the largest scale among three domestic companies at the ‘EIMA 2024’ (Italy Bologna International Agricultural Machinery Exhibition), one of the world's four major agricultural machinery exhibitions. It showcased new products and accessories and implements specialized for the local market. At the exhibition, TYM promoted its European subsidiary, scheduled to operate from 2025, and shared key strategies through a conference targeting major trading partners and local dealers in 44 European countries.
Focusing on large horsepower sales, including European-customized orchard tractors and new high-margin models in the 115-130 horsepower range, TYM set a goal to achieve a 10% market share in all key European hub countries.
Meanwhile, Bang Gi-seon, Director of the Office for Government Policy Coordination at the Prime Minister’s Office, attended the Ukraine Peace Summit held in Birgenschtok, Switzerland, in June as the government’s chief representative.
The Prime Minister’s Office reported that Director Bang stated at the meeting that South Korea will "continue efforts to enhance Ukraine’s agricultural capabilities and support countries facing food crises."
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