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Company nameTaeguTec Ltd.
Company typePrivate
Founder(s)Government of South Korea
HeadquartersDaegu, South Korea
Key peopleMoshe Sharon, President

     Home | Company | TaeguTec

TaeguTec Ltd. (Korean: 대구텍), formerly known as Korea Tungsten Co. (KTC, 대한중석), is a multi-national corporation headquartered in Daegu, Korea. It is the largest cutting tools manufacturer in the Far East, also Korea’s largest manufacturer of tungsten cutting tools and hard metal tools with the only integrated tungsten production plant in the world. The company is accounting for more than 60% of domestic production. TaeguTec group has 26 overseas subsidiaries and over 130 distributors and 30 agents in 50 countries across Europe, Asia, Australia, and the American countries. Considered as the world's oldest cutting tool manufacturer, the group has earned reputation for its excellent global marketing and large production capacity worldwide. In May 2006, Berkshire Hathaway, chaired by Warren Buffett, purchased an 80% stake in TaeguTec’s holding company IMC for US$5 billion. Through this acquisition, TaeguTec became the first and only Berkshire Hathaway company in Korea. On October 25, 2007, Warren Buffett personally attended the inauguration of an IMC manufacturing plant in Dalian, China, after which he flew to Daegu, Korea to visit TaeguTec corporate headquarters. On March 21, 2011, Warren Buffett re-visited TaeguTec group headquarters to attend TaeguTec Plant 2 inauguration ceremony and later met with Korean President Lee Myung-bak. Buffett also visited the Indian subsidiary TaeguTec India in Bangalore.

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