South Korea under the dictatorship of Park Chung-hee where South Korea's economy rapidly grew from industrialisation and the Chaebol corporations such as Samsung and LG. Ever since the industrialization of South Korea's economy, South Korea has placed its focus on technology-based corporations, which has been supported by infrastructure developments by the government. South Korean corporations Samsung and LG were ranked first and third largest mobile phone companies in the world in the first quarter of 2012, respectively. An estimated 90% of South Koreans own a mobile phone. Aside from placing/receiving calls and text messaging, mobile phones in the country are widely used
Korea Tungsten Company Korea Tungsten Company Korea Tungsten Company (KTC, Korean: 대한중석, pronounced "daehan jungsuk", Hanja: 大韓重石) was a major South Korean manufacturer of tungsten cutting tools, tungsten powder, and related metal-cutting products. It was the 28th-largest chaebol by asset with subsidiaries such as Korea Tungsten Construction and Korea Sintered Metal. 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. On May 12, 1998, Keo-Pyung announced that it would shed 14 of its 19