Car Auto Online | Daewoo | Daewoo 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 of 1998, Daewoo was the second largest conglomerate in
Korea after
Hyundai Group, followed by
LG Group and
Samsung Group. There were about 20 divisions under the
Daewoo Group, some of which survive today as independent
companies.
Daewoo Motor Co., Ltd.
Daewoo Motor Co.,Ltd. was founded when the Daewoo Group purchased Saehan Motor in 1978, but the Daewoo Motor name appeared only in 1983.
Daewoo Motor arrived 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 near the top 10
motor companies in terms of
production.
The Daewoo was forced to sell off its
automotive arm,
Daewoo Motor, to
General Motors in 2001. Since then,
General Motors has been moving to rebadge
Daewoo cars as models for many brands, including
Chevrolet, Buick, Pontiac, Holden, and
Suzuki. The
GM Daewoo nameplate was kept only for
South Korea and Vietnam until 2011.
Daewoo Commercial Vehicles Division was sold to
Tata Motors of
India. -
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