Oleksandr Koren, third from left, first secretary of science and technology issues at the Ukrainian Embassy in Seoul, poses with TYM's employees at the farming machine maker's factory in Okcheon, North Chungcheong Province, Friday. The company donated 550 million won ($379,000) worth of its products to the European country. Courtesy of TYM

Donald Trump's inauguration as the 47th U.S. president on Monday (local time) has been boosting prospects of Korean construction companies, equipment makers and tech firms aiming to take part in the $900 billion project to rebuild Ukraine.

Although it was reported earlier this month that the new U.S. president has pushed back his campaign pledge to end the war in Ukraine in “24 hours” to several months, expectations are rising that the post-war reconstruction of the Eastern European country could start soon, considering the recent ceasefire in Gaza, which took effect a day before Trump's inauguration.

Amid the growing hope for another peace treaty, TYM said Monday that it held a ceremony last Friday to celebrate another donation of its farming machines to Ukraine.

Oleksandr Koren, first secretary of science and technology issues at the Ukrainian Embassy in Seoul, joined TYM's employees at the ceremony in expressing their wishes for the people of Ukraine to regain their peaceful everyday lives as soon as possible.

According to TYM, the size of its latest donation to Ukraine reaches 550 million won ($379,000). The company added that the accumulative size of its donations to the war-torn country amounts to 1.3 billion won.

“While maintaining our close partnership with Ukraine and continuously looking for ways to support the country, we will do our best to become a good partner to restore its agriculture,” a TYM official said.

Daedong's employees pose with Ukrainian envoys at the company's factory in Daegu, Wednesday, during an event to celebrate the shipment of the farming machine maker's tractors to the European country. Courtesy of Daedong

Daedong, a major rival of TYM, also said last Thursday that it initiated the shipment of its tractors to the Ukrainian market.

This came after the agricultural equipment maker signed an agreement with a Ukrainian importer last November to supply 30 billion won worth of tractors over the next three years.

The celebration of the shipment from the company's Daegu factory last Wednesday was also attended by Ukrainian Sen. Oleksandr Denysenko and Andrii Vieshkin, counsellor of economic issues at the Ukrainian Embassy in Seoul.

“Starting from 2025, we will expand our presence in Ukraine,” Daedong Vice President Lee Jong-sun said. “We will do our best to keep contributing to Ukraine's agriculture and to play a major role for the long-term development of the country's farming industry.”

DR & Aju Senior Adviser Byun Ji-hyun speaks at the law firm's head office in Seoul, Thursday, during a seminar on strategies for Korean companies to enter Ukraine's postwar reconstruction market. Courtesy of DR & Aju

DR & Aju, one of the major law firms here, emphasized that Korean companies' participation in the Ukraine reconstruction project will help Asia's fourth-largest economy take a leap forward.

“Ukraine is the most ideal country to rebuild, considering its large territory, ample agricultural and mineral resources, population of 35 million and possibility of massive financial support from the United States and Western Europe,” DR & Aju Senior Adviser Byun Ji-hyun said at a seminar hosted by the law firm last Thursday.

The seminar attracted officials from Samsung Electronics, KT, POSCO International and major construction firms, such as Samsung C&T, Daewoo E&C, POSCO E&C and Dongbu Construction, in addition to state-run enterprises, including Korea Hydro & Nuclear Power and Korea Water Resources Corp.

Byun, a career diplomat, anticipated that peace talks between Ukraine and Russia will proceed in the wake of Trump's inauguration.

Ukrainian lawyer Vasyl Pop-Stasiv from a local office of the global law firm Taylor Wessing also gave a presentation via online, as the two law firms signed a partnership in 2014.

He encouraged Korean companies to enter the Ukrainian market, introducing the European country's streamlined procedures to establish local subsidiaries and various incentives for foreign direct investments.