With the national government, KTC also established POSCO, which is now the world's second largest steelmaker by output.
In 1998, Keo-Pyung, then KTC's proprietor, defaulted on its loans and was declared bankrupt by its main creditor, CHB Bank.
ISCAR, the predecessor and now the largest arm of IMC, bought KTC after months of negotiations, and renamed it TaeguTec.
Today, TaeguTec group has become a global tooling and solutions giant with 25 overseas subsidiaries and over 130 distributors in 50 countries throughout the world.
The history of KTC dates back to April 1916, when the Sangdong Tungsten Mine was discovered in Gangwon Province, South Korea.