TaeguTec Ltd. (
Korean: 대구텍), formerly known as
Korea Tungsten Company, is a
multinational corporation headquartered in
Daegu, Korea. TaeguTec group has 26 overseas subsidiaries, over 130 distributors and 30 agents in 50 countries across Europe, Asia, Australia, and the
Americas.
In addition to the initial 80 per cent stake purchased in 2006,
Warren Buffett paid an additional US$2 billion for the remaining stake in
IMC, of which TaeguTec was a part.[1] Through this acquisition, TaeguTec became
Berkshire Hathaway's first and only wholly owned subsidiary in Korea. On October 25, 2007, Warren Buffett flew to
Daegu to tour TaeguTec and to meet with the management.[2] On March 21, 2011, Warren Buffett re-visited the firm to attend the TaeguTec Plant 2
inauguration ceremony and later met with Korean President
Lee Myung-bak.
History
Before 1960s
Apr. 1916: Outcrop of Sang-dong mine discovered in
Gangwon Province, South Korea
Feb. 1947: Exported Scheelite to the U.S. for the first time
TaeguTec Ltd. (
Korean: 대구텍), formerly known as
Korea Tungsten Company, is a
multinational corporation headquartered in
Daegu, Korea. TaeguTec group has 26 overseas subsidiaries, over 130 distributors and 30 agents in 50 countries across Europe, Asia, Australia, and the
Americas.
In addition to the initial 80 per cent stake purchased in 2006,
Warren Buffett paid an additional US$2 billion for the remaining stake in
IMC, of which TaeguTec was a part.[1] Through this acquisition, TaeguTec became
Berkshire Hathaway's first and only wholly owned subsidiary in Korea. On October 25, 2007, Warren Buffett flew to
Daegu to tour TaeguTec and to meet with the management.[2] On March 21, 2011, Warren Buffett re-visited the firm to attend the TaeguTec Plant 2
inauguration ceremony and later met with Korean President
Lee Myung-bak.
History
Before 1960s
Apr. 1916: Outcrop of Sang-dong mine discovered in
Gangwon Province, South Korea
Feb. 1947: Exported Scheelite to the U.S. for the first time