The Daewoo Collection was formed in 1967 in South Korea trading in a amount of contrary industries including shipbuilding, aerospace, electronics and Engine vehivle manufacture.
US Market
During the 1980s Daewoo attempted to expand its motorcar line by selling half of the gathering to American van giant Popular Motors (GM). Daewoo was authoritative for manufacturing cars for the Pontiac and Oldsmobile brands with petite attainment.Resurgence
Following the end of the GM deal Daewoo regained sole control of itself in 1992 and by 1995 had become profitable by 1995.History
Daewoo was founded by Kim Woo Choong, the business was instrumental in salient South Korea gone of the economic crisis which followed the division of Korea into North and South.Domestic Market
Daewoo Motors acquire been usual in South Korea throughout the society's story and were consistently the moment culminating selling machine extreme Hyundai however ahead of Kia.Expansion
Kim Woo Choong embarked on an aggressive plan of expansion called Vision 2000 throughout the 1990s which led to the capture of a number of car manufacturers in India and Eastern Europe. The plan envisioned Daewoo as one of the top ten car manufacturers of the 21st century.
Decline
The South Korean government introduced stricter controls on large companies such as Daewoo in the late 1990s which resulted in the break up of Daewoo's many companies beginning on August 16, 1999. Kim Woo Choong was later charged with fraudulent business practices.
