Formerly a lumber mill town with an estimated population of 170 at its peak, the town was established in 1942 by Charles Korpela and Oscar Maki. It was populated primarily by Finnish and Franco-Ontarian workers and their families. A post office, a company store and a school were established at Kormak in the 1940s.
By 1974, the town was in decline, and both the post office and the store were shut down. The mill finally closed in 1979, and almost all of the remaining residents moved away.
One home at Kormak is still occupied year-round, while two others are in use as seasonal cottage properties.