- Vice Minister of Agriculture of the Philippines Visits TYM Headquarters to Discuss Agricultural Machinery Collaboration.
- TYM Completes Development of 100-HP Tractor Tailored for the Philippine Market; Launch Planned.
- "We Will Drive Modernization of Philippine Agriculture and Expand Our Position in Southeast Asia with Localized Solutions."
Leading agricultural equipment manufacturer TYM is ramping up efforts to expand into Southeast Asian agricultural markets as part of its global diversification strategy.
TYM (Co-CEOs: Hiyong Kim, Dohoon Kim / 002900) announced on April 10th that a delegation led by Jerome V. Oliveros, Vice Minister of Agriculture of the Philippines; Arnel V. De Mesa, Assistant Vice Minister; and Lev Nikko M. Macalintal, Agricultural Attaché at the Embassy of the Philippines in Korea, along with Boseok Kim, CEO of TYM’s official Philippine partner Fit Corea Trading, visited TYM’s headquarters.
Notably, TYM was the only private Korean agricultural machinery company visited by the Philippine Ministry of Agriculture delegation during their trip. The visit followed the ‘Korea-Philippines Business Forum’ on April 7, where the Philippine government delegation held high-level talks with the Korean government to discuss strengthening strategic partnerships across key industries, including agri-food. Subsequently, the delegation visited TYM to explore ways of modernizing agriculture in the Philippines and fostering local agricultural development.
Seizing Opportunity in Southeast Asia’s Key Growth Market
The Philippines, a critical potential market for agricultural machinery in Southeast Asia, currently has a mechanization rate for rice cultivation of just 20%. As a result, approximately 16% of rice production is lost during harvesting, processing, and distribution. The Philippine government is actively implementing projects to reduce post-harvest losses, increase mechanization rates, and enhance rice quality and value, with plans to further expand the supply of agricultural machinery. As part of these initiatives, the government discussed with TYM ways to support educational facilities and industrial infrastructure for project collaboration and locally tailored services.
At the meeting, TYM CEO Dohoon Kim stated: “Following the supply of 900 tractors to the Philippines last year and an additional 320 units this year, TYM’s machines have once again proven to be optimally suited to the Philippine agricultural environment. Moving forward, we will continue to contribute to the modernization of Philippine agriculture and strengthen our presence in Southeast Asia through localized solutions that combine product performance, service, and education.”
Localized Innovation: The New T6100R Tractor
TYM is set to launch the T6100R, a new 100-horsepower tractor specifically tailored to crops and conditions in the Philippines. The model is designed to be deployed in a timely manner to address the unique needs of local farmers. Boseok Kim of Fit Corea Trading emphasized, “The greatest competitive advantage of TYM tractors lies in their models customized for the Philippine agricultural environment and in the prompt after-sales service.”
Driving Global Market Diversification
Beyond the Philippines, TYM continues to pursue global market diversification. The company is committed to enhancing its competitiveness with locally specialized products and services. In December, TYM engaged with the Ambassador of Uzbekistan to commercialize the locally specialized ‘T6092’ tractor, officially launching related projects. In November, TYM established its European subsidiary in the Netherlands and is actively considering additional overseas subsidiaries to further strengthen its global market leadership.