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    Daewoo Precision Industries K2 assault rifle was developed by the South Korean Agency for Defense Development and manufactured by S&T Motiv. It is curren...

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    The S&T Daewoo K11 DAW is a multi-weapon resembling the earlier US Objective Individual Combat Weapon in concept, design and operation. It consists of tw...

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    The Daewoo Prince is a mid-size luxury car that was produced by Daewoo in South Korea between 1991 and 1997. The car was based on the rear-wheel drive Opel R...

  • Daewoo Precision Industries K5

    The Daewoo Precision Industries K5 or K5/DP51 series is a 9×19mm semi-automatic pistol produced by S&T Daewoo of South Korea. The K5 was introduced in 19...

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    The Chevrolet Spark is a city car, originally marketed prominently as the Daewoo Matiz. It has been available solely as a five-door hatchback. The first gene...

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    The Daewoo Leganza is a mid-size sedan produced by Daewoo in South Korea between 1997 and 2002. Its internal development name was V100, under which it and it...

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  • Daewoo Nubira

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  • Daewoo Precision Industries K3

    The Daewoo Precision Industries K3 is a South Korean light machine-gun. It is the third indigenous firearm developed in South Korea by the Agency for Defense...

  • Daewoo Telecom K7

    The Daewoo Telecom K7 is a 9×19mm Parabellum submachine gun with an integral suppressor used by the Republic of Korea Armed Forces. It is based on the Daewoo...

  • Suzuki Carry

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  • Daewoo Espero

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  • Daewoo Magnus

    The Daewoo Magnus was a mid-sized sedan developed and manufactured by Daewoo from 2000 to 2006. GM Daewoo and other General Motors divisions, as well as GMDA...

  • Daewoo LeMans

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Daewoo

Daewoo or the Daewoo Group was a major South Korean chaebol and car manufacturer.
It was founded on 22 March 1967 as Daewoo Industrial and was declared bankrupt on 1 November 1999, with debts of about US$50 billion equivalent to $77 billion in 2019. Prior to the 1997 Asian financial crisis, Daewoo was the second largest conglomerate in South Korea after the Hyundai Group. There were about 20 divisions under the Daewoo Group, some of which survived as independent companies.

1. Corporations
There were about 20 divisions in the Daewoo Group.
Daewoo Group had under its umbrella several major corporations:
Daewoo Electronics, a strong force both internationally and in South Korea
Daewoo Motor Sales, an auto sales company sold Daewoo but also GM cars and others in South Korea Sub-branch: Architectural Iaan Div., SAA-Seoul Auto Auction
Daewoo Motors, the motor vehicles division
Daewoo Bus, is a manufacturer of buses. headquartered in Busan, South Korea, established in 2002. These buses are primarily used for public transportation
Daewoo Textile Co. Ltd.
Daewoo Precision Industries produced small calibre firearms and auto parts. It was spun off in February 2002 and relisted on the South Korean stock-market in March 2002. It was renamed ST Daewoo Co., Ltd in September 2006, and then ST Motiv Co., LTD in March 2012.
Daewoo Heavy Industries DHI, which created heavy duty machinery
Daewoo Electronic Components manufactures and sells a variety of electronic parts and components, especially for automobile, televisions, monitors, VHS Players and other multimedia products.
Daewoo Corporation, sub-branch Daewoo Construction, Keangnam Enterprises which built highways, dams and skyscrapers, especially in the Middle East and Africa
Daewoo Telecom Ltd., which concentrated on the telecommunications sub-branch Daewoo Informations Systems Co. Ltd.
Daewoo Shipbuilding & Marine Engineering produced container ships, oil tankers and planes. It spun off in 2000 and became an independent company, DSME, re-listing on the South Korean stock-market in 2001
Daewoo International, a trading organization
Daewoo Development Co. Ltd., managing Daewoo hotels around the world and had the Millennium Seoul Hilton franchise in South Korea
Daewoo Securities, a financial securities company
IAE Institute for Advanced Engineering: research and development integrated center
A further subsidiary was the Daewoo Development Company, funded by cash from the Group and set up to develop hotels. Seven were built in South Korea, China, Vietnam, and Africa. They were personally designed and furnished by Kim Woo-jungs socialite wife Heeja, who was chairwoman of the company. The most lavish is the 5-star Hanoi Daewoo Hotel, which cost US$163 million to build in 1996 and was decorated by Heeja with fine art, porcelain, sculptures, and marble. She invited 3.000 guests to the opening, including Russian President Vladimir Putin. Kim is believed to have spent time there while "on the run".

1.1. Corporations Daewoo Motor Co., Ltd.
Daewoo Motor Co., Ltd. was founded when the Daewoo Group purchased Saehan Motor in 1978, but the Daewoo Motor name did not appear until 1983.
The Daewoo Motor brand appeared in the UK in 1995. At the time, it was the only manufacturer not using traditional dealerships – it owned and operated its own retail network. It was once considered to be among the top 10 motor companies in terms of production.
Due to financial trouble, Daewoos automotive arm, Daewoo Motor, was sold to General Motors Korean in 2001. The Daewoo nameplate continued in South Korea and Vietnam until 2011. The former Daewoo facilities are now producing General Motors vehicles for Asian markets.
Daewoo Commercial Vehicles Division was sold to Tata Motors.

2. History
The Daewoo Group was founded by Kim Woo-jung in March 1967. He was the son of the Provincial Governor of Daegu. He graduated from the Kyonggi High School, then finished with an Economics Degree at Yonsei University in Seoul.
During the 1960s, after the end of the Syngman Rhee government, the new government of Park Chung Hee intervened to promote growth and development in the country. It increased access to resources, promoted exports, financed industrialization, and provided protection from competition to the chaebol in exchange for a companys political support. In the beginning, the Korean government instigated a series of five-year plans under which the chaebol were required to achieve a number of basic objectives.
Daewoo did not become a major player until the second five-year plan. Daewoo benefited from government-sponsored cheap loans based on potential export profits. The company initially concentrated on labor-intensive clothing and textile industries that provided high profit margins because of South Koreas large and relatively inexpensive workforce.
The third and fourth of the five-year plans occurred from 1973 to 1981. During this period, the countrys labor force was in high demand. Competition from other countries began eroding South Koreas competitive edge. The government responded to this change by concentrating its efforts on mechanical and electrical engineering, shipbuilding, petrochemicals, construction, and military initiatives. At the end of this period, the government forced Daewoo into shipbuilding. Kim was reluctant to enter this industry, but Daewoo soon earned a reputation for producing competitively priced ships and oil rigs.
During the next decade, the Korean government became more liberal in its economic policies. Small private companies were encouraged, protectionist import restrictions were loosened, and the government reduced positive discrimination affirmative action, to encourage free market trade and to force the chaebol to be more aggressive abroad. Daewoo responded by establishing a number of joint ventures with U.S. and European companies. It expanded exports of machine tools, defense products under the ST Daewoo company, aerospace interests, and semiconductor design and manufacturing. Eventually, it began to build civilian helicopters and airplanes, priced considerably cheaper than those produced by its U.S. counterparts. It also expanded efforts in the automotive industry and was ranked as the seventh largest car exporter and the sixth largest car manufacturer in the world. Throughout this period, Daewoo experienced great success at turning around faltering companies in South Korea.
In the 1980s and early 1990s, the Daewoo Group also produced consumer electronics, computers, telecommunication products, construction equipment, buildings, and musical instruments.

3. Crisis and collapse
Daewoo Group ran into deep financial trouble in 1998 due to the 1997 Asian financial crisis, increasingly thin relationships with the Korean government under President Kim Dae Jung, and its own poor financial management. With the Korean government in deficit, access to cheap and nearly unlimited credit was severely restricted.
In 1998, when the economic crisis forced most of the chaebol to cut back, Daewoo added 14 new firms to its existing 275 subsidiaries, in a year where the group lost a total of 550 billion won US$458 million on sales of 62 trillion won US$51 billion. At the end of 1997, South Korea’s four biggest chaebol had a debt of nearly five times their equity. While Samsung and LG cut back in the midst of the economic crisis, Daewoo took on 40% more debt.
By 1999, Daewoo, the second largest conglomerate in South Korea with interests in about 100 countries, went bankrupt, with debts of about US$50 billion equivalent to $77 billion in 2019.
Soon after the demise, Chairman Kim Woo-Jung fled to Vietnam, and former Daewoo factory workers put up "Wanted" posters with his picture. Kim returned to Korea in June 2005 and was promptly arrested. He was charged with masterminding accounting fraud of 41 trillion won US$43.4 billion, illegally borrowing 9.8 trillion won US$10.3 billion, and smuggling US$3.2 billion out of the country, according to South Koreas Yonhap News Agency. On 30 May 2006, Kim was sentenced to 10 years in prison after being convicted of fraud and embezzlement. On the last day of the trial, Kim tearfully addressed the court, "I cannot dodge my responsibility of wrongly buttoning up the final button of fate."

3.1. Crisis and collapse Analysis
According to an article in The Economist, dated 19 August 1999 not long after Daewoos bankruptcy, "Its failure was a long time coming."
The downfall of Daewoo was and still remains highly controversial because of the sheer importance of chaebols in the national economy. The collapse caused billions of dollars in losses for both South Korean banks and the government, who were forced to stage-manage Daewoos dissolution to soften the blow. The bankruptcy was not only a financial crisis, but also a political one, and it came as a shock to much of the nation.
Michael Schuman of Time stated that while Daewoos demise had significant consequences, it would have nonetheless been better than propping it up with fresh funds. There was a persistence of the belief that Daewoo and other Korean conglomerates were "too big to fail". Such belief led many bankers and investors to continually waste money on bailouts, despite the sign that Daewoo was unable to engineer a turnaround and repay these bad loans. Once the too-big-to-fail perception was dispelled, with large conglomerates no longer considered the safest investments, bankers and investors began financing new opportunities in areas which had been starved of capital, such as small firms, entrepreneurs and consumers. Koreas GDP actually rose after Daewoos unwinding.
Schuman also noted a similar analogy with Japan during its lost decade of the 1990s, where banks kept injecting new funds into unprofitable "zombie firms", on the belief that the firms were too big to fail. However, most of these companies were too debt-ridden to do much more than survive on further bailouts, which led to an economist describing Japan as a "losers paradise." Schuman states that Japans economy did not begin to recover until this practice had ended.

4. Breakup and present status
The group was reorganized into three separate parts: Daewoo Corporation, Daewoo Engineering & Construction and Daewoo International Corporation. They are active in many markets, most significantly in steel processing, ship building and financial services. The corporate entity known as "Daewoo Corporation" is now known as "Daewoo Electronics" and is focused solely on manufacturing electronics.
Daewoo Electronics survives to this day, despite bankruptcy, with a new brand logo "DE", but many of the other subsidiaries and divisions have become independent or simply perished under the "reorganization" by the Korean government under Kim Dae Jung. In North America, Target stores market Daewoo Electronics products under their "Trutech" brand on an ODM basis.
In 2004, General Motors pulled the Daewoo brand of vehicles out of Australia and New Zealand, citing irreparable brand damage. Later that same year, GM announced that Daewoo Motors in Europe would change its name to Chevrolet on 1 January 2005. In 2005, it was announced that Daewoo cars would have a Holden badge in Australia and New Zealand. In South Africa, Thailand, and the Middle East, Daewoo models were already branded Chevrolet. In South Korea, Daewoo was renamed GM Korea.
As part of the company reorganization, the content and the structure of its brand portfolio its brand architecture was reorganized. In 2011, GM discontinued the Daewoo brand name in South Korea and replaced it with the Chevrolet brand. In 2015, Daewoo brand was relaunched as Ravon / GM Uzbekistan.
The Daewoo commercial vehicle manufacturer was taken over by Tata Motors.

4.1. Breakup and present status Involvement in Myanmar
Daewoo also moved into the oil and gas industry. While Western oil and gas companies were unwilling to conduct business in Myanmar on account of the abysmal human rights record of the ruling military junta, Daewoo is one of three oil companies, along with the French company Total and the American company Unocal, operating in the country. During explorations in 2008, Daewoo found one of the largest gas fields in southeast Asia, the Shwe offshore field, in the Bay of Bengal, about 100 km off Sittwe. The field went into production in 2013.

4.2. Breakup and present status The Daewoo brand today
Today six companies with the Daewoo brand name remain:
Daewoo Electronics DE - Specializing in electronics
Daewoo International - Specializing in trading and investment
Daewoo Engineering & Construction - Specializing in construction
Zyle Daewoo Commercial Vehicle - Specializing in buses
Daewoo Shipbuilding & Marine Engineering DSME - Specializing in shipbuilding
Tata Daewoo - Specializing in commercial vehicles, wholly owned by Tata Motors of India

Daewoo LeMans

The Daewoo LeMans is a compact car, first manufactured by Daewoo in South Korea between 1986 and 1994, and between 1994 and 1997 as Daewoo Cielo - a car mech...

Daewoo Magnus

The Daewoo Magnus was a mid-sized sedan developed and manufactured by Daewoo from 2000 to 2006. GM Daewoo and other General Motors divisions, as well as GMDA...

Daewoo Espero

The Daewoo Espero is a four-door, five-seater mid-sized notchback saloon produced by the South Korean company Daewoo Motors from September 1990 to 1997. It w...

Suzuki Carry

The Suzuki Carry is a kei truck produced by the Japanese automaker Suzuki. The microvan version was originally called the Carry van until 1982 when the van w...

Daewoo Telecom K7

The Daewoo Telecom K7 is a 9×19mm Parabellum submachine gun with an integral suppressor used by the Republic of Korea Armed Forces. It is based on the Daewoo...

Daewoo Precision Industries K3

The Daewoo Precision Industries K3 is a South Korean light machine-gun. It is the third indigenous firearm developed in South Korea by the Agency for Defense...

Zyle Daewoo Commercial Vehicle

Zyle Daewoo Commercial Vehicle is a South Korean manufacturer of buses and is majority owned by Young-An Hat Company, based in Busan. It was established in 2...

Daewoo Nubira

The Daewoo Nubira is a compact car which was produced by the South Korean automaker Daewoo from 1997 to 2002 as a 4-door sedan, 5-door hatchback and a 5-door...

Daewoo Precision Industries K1

The Daewoo Precision Industries K1/K1A is a South Korean carbine assault rifle, the first modern firearm developed by Agency for Defense Development and manu...

Daewoo Tico

The Daewoo Tico was based largely on the 1988 Kei car Suzuki Alto. The car was equipped with a three-cylinder 796 cc S-TEC engine -upgraded version for expor...

Daewoo Leganza

The Daewoo Leganza is a mid-size sedan produced by Daewoo in South Korea between 1997 and 2002. Its internal development name was V100, under which it and it...

Chevrolet Spark

The Chevrolet Spark is a city car, originally marketed prominently as the Daewoo Matiz. It has been available solely as a five-door hatchback. The first gene...

Daewoo Precision Industries K5

The Daewoo Precision Industries K5 or K5/DP51 series is a 9×19mm semi-automatic pistol produced by S&T Daewoo of South Korea. The K5 was introduced in 19...

Daewoo Prince

The Daewoo Prince is a mid-size luxury car that was produced by Daewoo in South Korea between 1991 and 1997. The car was based on the rear-wheel drive Opel R...

S&T Daewoo K11

The S&T Daewoo K11 DAW is a multi-weapon resembling the earlier US Objective Individual Combat Weapon in concept, design and operation. It consists of tw...

Daewoo Precision Industries K2

Daewoo Precision Industries K2 assault rifle was developed by the South Korean Agency for Defense Development and manufactured by S&T Motiv. It is curren...