Korea Resources Corporation (KORES), as one of Korea's state owned energy and resources enterprises, has its roots in mining industry since it was established as the Korea Mining Promotion Corporation in 1967. In 2008, KORES was reborn with a vision to grow into one of the global top 20 players in the mining and resources sector by 2020. The ambitious transformation reflected the Korean government's strong commitments to meeting the ever growing natural resources needs of the Korean economy.