TaeguTec
A South Korean industrial manufacturer specializing in carbide cutting tools, inserts, tool systems, and related tungsten-based products.
Last updated August 25, 2026
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Overview
TaeguTec is a South Korean industrial manufacturing company headquartered in Daegu and best known internationally for metal-cutting tools. Its product portfolio covers turning, milling, drilling, grooving, threading, toolholding, carbide blanks, solid carbide tools, mining tools, brazed tools, and other wear-resistant or tungsten-based products used in industrial production. The brand serves manufacturers that machine metals and other engineering materials, including customers in sectors such as automotive, general engineering, energy, aerospace, construction equipment, and mining. The company was established in 1952 as Korea Tungsten Company by the South Korean government, following earlier development of the Sang-dong tungsten resource in Gangwon Province. Its initial activities centered on tungsten mining, chemical processing, and exports of scheelite and tungsten-related materials. During the following decades, Korea Tungsten expanded downstream into tungsten metal and carbide powders, cemented carbide, cutting inserts, coatings, toolholders, carbide rolls, wire, ceramics, and mining products. This vertical development gave the business capabilities spanning raw materials, powder processing, carbide production, coating, and finished tooling. International expansion began early. Offices were established in New York, London, and Tokyo during the 1960s, followed by additional European and Asian operations. The business also participated in the formation of POSCO as a joint venture with the Korean government in 1968. During the 1970s and 1980s it added major production capabilities, including ammonium paratungstate, tungsten powders, cemented carbide, coated products, toolholders, cermet inserts, carbide rolls, tungsten wire, and ceramics. These investments helped transform it from a mining and materials enterprise into a broader industrial technology company. The Sang-dong tungsten mine closed in 1994, and Korea Tungsten was privatized and acquired by Keopyung Group that year. In 1998, the company was acquired by Iscar and changed its name to TaeguTec Ltd. in August of the same year. Its headquarters moved from Seoul to Daegu in 1999. Under the TaeguTec name, the company expanded its sales, engineering, research, and manufacturing footprint through subsidiaries and distribution partners across the Americas, Europe, Asia, Australia, and Africa. TaeguTec became part of the IMC group, in which Berkshire Hathaway acquired an initial majority stake in 2006. Berkshire Hathaway subsequently acquired the remaining interest in IMC in 2013, making TaeguTec part of Berkshire Hathaway's wholly owned Korean industrial operations. Warren Buffett visited the Daegu facility in 2007 and returned in 2011 for the inauguration of Plant II. These events increased the company's visibility outside the specialist metalworking sector, although its operating identity remained that of a technical industrial tooling manufacturer. The company operates through a broad international network. The referenced company history describes 26 overseas subsidiaries, more than 130 distributors, and 30 agents serving approximately 50 countries. Its positioning is that of a technically oriented, internationally distributed cutting-tool supplier offering performance-focused solutions for professional machining operations. The business is active rather than a historical or discontinued brand, but detailed current revenue, leadership, ownership structure below Berkshire Hathaway, and an official current website are not established in the supplied reference material.
History
TaeguTec traces its industrial roots to tungsten development in Korea. The Sang-dong tungsten deposit in Gangwon Province was identified in 1916, and Korea exported scheelite to the United States by 1947. In September 1952, the South Korean government established Korea Tungsten Company. The early enterprise combined mining, chemical processing, and international tungsten trade; a chemical processing plant was completed in 1959. During the 1960s, Korea Tungsten established overseas offices in New York, London, and Tokyo and created a research and development center. It also participated in the establishment of POSCO in 1968 as part of a government-backed joint venture. In the 1970s the company broadened its materials base by adding ammonium paratungstate, tungsten metal powder, and tungsten carbide powder production. It then moved further into finished industrial products with a cemented-carbide plant in 1977, a coating plant producing CVD-TiN products in 1978, and a toolholder plant in 1979. The 1980s brought additional technical diversification. Korea Tungsten developed specialized coated substrates, introduced cermet inserts, and built plants for carbide rolls and tungsten wire. A ceramic plant followed in 1991. The Sang-dong mine closed in 1994, ending the company's direct involvement in that mining operation, while the business continued to develop processing and manufacturing activities. Korea Tungsten was privatized and acquired by Keopyung Group in 1994. Iscar acquired Korea Tungsten in 1998, and the company adopted the TaeguTec name in August that year. In 1999, its headquarters moved from Seoul to Daegu, and operations in the United States and Germany were established or reorganized under the TaeguTec identity. Expansion continued through subsidiaries and local operations in India, the United Kingdom, China, Brazil, Scandinavia, Italy, Japan, Australia, Turkey, Slovakia, Malaysia, Thailand, Spain, France, Indonesia, Poland, Russia, Ukraine, South Africa, the Czech Republic, Hungary, Argentina, and Taiwan. New research, technology, carbide-rod, and marketing facilities supported this international development. TaeguTec became part of IMC International Metalworking Companies. Berkshire Hathaway purchased an initial 80 percent interest in IMC in 2006 and acquired the remaining interest in 2013. Warren Buffett visited TaeguTec in Daegu in 2007 and returned in 2011 for the inauguration of Plant II. The company also received Korean export-recognition awards, including a $100 million Export Tower award in 2005, a $200 million award in 2008, and a $300 million award in 2012. In 2012 it obtained AEO certification, and in 2013 it received Korean government recognition connected with worker well-being and job creation. The supplied sources describe a continuing multinational operation with subsidiaries, distributors, and agents across approximately 50 countries.
- 2013
Berkshire Hathaway becomes sole IMC owner
[1]Berkshire Hathaway acquired the remaining 20 percent of IMC, making TaeguTec part of a wholly owned Berkshire Hathaway subsidiary in Korea.
- 2011
Plant II inaugurated
[1]TaeguTec opened Plant II in Daegu, with Warren Buffett attending the inauguration ceremony.
- 2006
Berkshire Hathaway acquires an initial IMC stake
[1]Berkshire Hathaway acquired an initial majority interest in IMC, bringing TaeguTec into its industrial group.
- 1999
Headquarters moved to Daegu
[1]The company moved its headquarters from Seoul to Taegu, now generally rendered in English as Daegu.
- 1998
Acquired by Iscar and renamed TaeguTec
[1]Iscar acquired Korea Tungsten, which changed its name to TaeguTec Ltd. later that year.
- 1994
Mine closed and company privatized
[1]The Sang-dong mine closed, and Korea Tungsten was privatized and taken over by Keopyung Group.
- 1985
Cermet inserts developed
[1]Korea Tungsten developed cermet inserts as part of its cutting-tool technology portfolio.
- 1978
CVD-TiN coating production introduced
[1]The company constructed a coating plant for CVD-TiN production.
- 1977
Cemented-carbide production added
[1]A cemented-carbide plant was constructed, supporting the company's shift toward advanced industrial tooling.
- 1968
Participation in POSCO founding
[1]Korea Tungsten joined the South Korean government in establishing POSCO as a joint venture.
Products and positioning
A high-performance industrial tooling brand serving professional metalworking and manufacturing applications through carbide technology, coatings, engineering support, and a global distribution network.
Metal-cutting tools
Indexable carbide inserts
Replaceable carbide inserts are used in turning, milling, drilling, grooving, and threading operations. The historical product range includes blank inserts, carbide inserts, coated products, and cermet inserts designed for industrial machining applications.
Metal-cutting tools
Solid carbide tools and carbide rods
TaeguTec developed carbide materials and later added carbide-rod manufacturing and solid-tool capabilities. These products provide the wear resistance and rigidity needed for drills, end mills, and other precision cutting tools.
Tool coatings · 1978
Coated cutting tools
The company established coating production in the late 1970s, including CVD-TiN capability, and subsequently developed specialized coated substrates. Coatings are used to improve tool life, wear resistance, and machining performance.
Tooling systems · 1979
Toolholders and tooling systems
Toolholders and related systems complement the company's cutting inserts and tools. They form part of the broader equipment offering supplied to production-machining customers.
Industrial and mining tools
Mining and brazed tools
The historical portfolio included mining tools and brazed tools alongside cemented-carbide blanks and inserts. These products extend the brand beyond factory machining into demanding wear and extraction applications.
Brand decisions
2013
Berkshire Hathaway completes IMC ownershipM&ABackground
Berkshire Hathaway already held a majority stake in IMC and sought to acquire the remaining interest.
Action taken
Berkshire Hathaway acquired the remaining 20 percent of IMC.
Aftermath
IMC, including TaeguTec, became wholly owned by Berkshire Hathaway.
2006
Berkshire Hathaway invests in IMCM&ABackground
TaeguTec was part of IMC International Metalworking Companies, an international group of metalworking-tool businesses.
Action taken
Berkshire Hathaway acquired an initial 80 percent interest in IMC.
Aftermath
TaeguTec became part of Berkshire Hathaway's industrial portfolio, and Berkshire later purchased the remaining IMC interest.
Initial ownership acquired. 80% (2006)
1998
Adoption of the TaeguTec name after Iscar acquisitionM&ABackground
Korea Tungsten had been acquired by Iscar as part of the company's transition from a government-established tungsten enterprise to an internationally integrated metalworking business.
Action taken
The company changed its name from Korea Tungsten Company to TaeguTec Ltd.
Aftermath
The TaeguTec identity became the platform for subsequent international subsidiary expansion and the company's continued development as a cutting-tool brand.
Sources1 sources
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