Auto Parts: kia sportage repair, kia sportage, keyway

Question
my 2001 kia sportage began running poorly recently. the check engine light came on and I took it to my local repair shop. It felt like a timing issue. I stepped on the gas and no power, or sometimes the car would stall. I took the car to the local repair shop. When they went to check the timing belt and and tensioners, the pully and balancer on the crank came off in their hands. the tip of the crankshaft has a chip out of it and the keyway is gone. I have been told that the only thing that I can do is have the engine rebuilt or replace the motor. Is this the only thing I can do or can you recommend another course of action. I have a picture of the crank if you need to have a view of it. Thanks

Answer
   So, the balancer self-destructed.  I'd like to see that picture of the crank nose, specifically the keyway.  If the keyway is completely destroyed, then you would need a new crank, at least.  It's possible, though, that you might be able to use it the way it is if it's not too badly damaged.  It all depends on how reliable a vehicle you need.  Also, how many miles on the vehicle?