This morning, CNBC's Squawk Box has been airing exclusive video reports from Becky Quick, who traveled exclusively with Warren Buffett on a fast-paced tour of China and South Korea.
Already posted: Why Buffett Thinks Korean Stocks Look Good.
In these two clips, Becky visits a little-known Korean company in what some might consider a "boring" business and explains why it's attracted the attention of the world's greatest investor.
Becky: TaeguTec. It's not a familiar name in America, but it is a very familiar name in South Korea and in Asia, and it is especially familiar if you are anybody who works in any sort of industrial things. It is a metal working company. I know, it sounds a little boring, but there's a lot of stuff that is going on here. They make parts and pieces that go into all kinds of fast growing industries. I mean, they are making things for auto companies, they are making things for the ship building industry. In fact, it's huge in the ship building industry, which is a very big industry right here in South Korea. They also make pieces and parts that go into power generation.
And those are things that Warren Buffett understands. It is something that he is always looking for in Berkshire Hathaway, before they will invest any money. Now TaeguTec, again, I know it's not a familiar name, but it is a division, it's part of Iscar. That's the metalworking company from Israel that he bought just about a year and a half ago.
The reason he bought into this is because by a lot of accounts, and they won't give out any public numbers, but nobody waves me off when I start talking about some of the things I've heard .. that this company is growing by 25 to 30 percent a year, when you look right here in South Korea and TaeguTec.
And that's the type of industry that Buffett is always talking about. Something that is fast growing, something he understands, something he knows will continue.
We'll tell you a lot more about what's happening right here in South Korea, wrap up the rest of Buffett's Asian adventure, with more Squawk Box on Monday morning. We will put it all together for you then.
Why Buffett Came to Korea for the Rocks
WHY WARREN BUFFETT CAME TO KOREA FOR THE ROCKS
Becky: In his 77 years, Warren Buffett's never been to South Korea. He's here today, and a big part of the reason he is here is this rock. This rock has tungsten in it. It was found in a mine very close to this location in Daegu, South Korea. It's the basis point for eveything that is made is TaeguTec. They grind down the tungsten. It's the powder base that goes into everything they do in the metalworks company here.
And I know, it sounds maybe not so exciting, until you start looking at the growth prospects for this company. That's what's got Warren Buffetrt excited.
Nobody will tell me exactly the dollar figures that are coming out of here, but nobody waves me off either when I'm guessing that they are growing somewhere between 25 and 30 percent a year, just out of this factory alone. Nobody's waving me off on that. And that's the type of thing that has Warren Buffett and Berkshire Hathaway very excited about the purchase of Iscar.
We are leaving after this stop right here in Daegu. We are headed back to Ohama, and in fact, after Omaha we head on back to the studios. So we will be with you on Monday Morning to wrap everything up on this whirlwind trip, on Squawk Box, Monday morning.
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