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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.
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Becky will continue to report on her experiences On the Road with Warren Buffett both on CNBC's Squawk Box (6a-9a ET weekdays) and here on Warren Buffett Watch.
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