Daewoo ("Dae" Hangul: ?. Korean for "Great" and "Woo" Hangul: ?. Korean the first name of founder and chairman Kim Woo-jung) or the Daewoo Group was a major South Korean chaebol (conglomerate).
Daewoo ("Dae" Hangul: ?. Korean for "Great" and "Woo" Hangul: ?. Korean the first name of founder and chairman Kim Woo-jung) or the Daewoo Group was a major South Korean chaebol (conglomerate).
It was founded on 22 March 1967 as Daewoo Industrial and was dismantled by the Korean government in 1999. Prior to the Asian financial crisis, Daewoo was the second largest conglomerate in Korea after Hyundai Group, followed by LG Group and Samsung. There were about 20 divisions under the Daewoo Group, some of which survive today as independent companies.
Corporations
There were about 20 divisions in the Daewoo Group.
Daewoo Group had under its umbrella several major corporations:
Daewoo Bus, is a manufacturer of buses. headquartered in Busan, South Korea, established in 2002. These buses are primarily used for public transportation
Daewoo Motors, the motor vehicles division (sub-branch Daewoo Automotive Components Co. Ltd., Daewoo Bus Co., Ltd., Daewoo Commercial Vehicle Co. Ltd.)
Daewoo Motor Sales, an auto sales company sold Daewoo but also GM cars and others in Korea (Sub-branch: Architectural Iaan Div., SAA-Seoul Auto Auction)
Daewoo Electronics, a strong force both internationally and in Korea (sub-branch Daewoo Electronic Components Co. Ltd, Daewoo Electric Motor Industries Ltd. Orion Electric Co. Ltd.)
Daewoo Precision Industries produced small calibre firearms and auto parts. It was spun off in February 2002 and relisted on the Korean stock-market in March 2002. It was renamed S&T Daewoo Co. Ltd in September 2006, and then S&T Motiv Co. LTD in March 2012.
