History of Daewoo

The industrial holding Daewoo who today visits our blog dedicated to the engine, devotes himself to make from weapon to domestic appliances. His car division was re-baptized in 2002 as GM Daewoo and it is controlled by General Motors with 42 % of the whole of the actions. At present the Daewoo models go out to the market under the name of Chevrolet.

• Daewoo; South Korea.
• Founded in 1967.
• Emblematic models: Scratches, Kalos, Lacetti, I hope, Asuna.
• Models in production: Cruze, Nubira, Epic, Captiva, Tone …

The industrial holding Daewoo was created in 1967 by Kim Woo-Choong. Kim, made use of the intentions of his Government of industrializing the country and with the support of the same one, developed and grew at a vertiginous speed. In 1970 and after reaching an agreement with the North American giant General Motors, it began to make his cars under license. The agreement was very beneficial for both parts, since to Daewoo there allowed to gain access to the last technologies and to General Motors to make cars with a very cheap labor.

In 1994 the agreement between both parts was cancelled. For that one then, the south-Korean signature was enjoying certain acceptance on the European market, especially in the United Kingdom. Although his products were not especially attractions, if it it was his price, test of it was the Tone thrown in 1998 and that it reached a few interesting sales levels. The constant Daewoo growth led him to including more fields than it could and in the year 2001 he declared himself insolvent.

General Motors decided to return to the load and acquired again Daewoo in 2002. It re-baptized the mark as GM Daewoo and threw new models. In the year 2004 General Motors announced that the models previously known as Daewoo would spend to be called Chevrolet. At present the models present a much more modern aspect, they are loaded with technology and support a few very exact prices.

Meanwhile in the Daewoo fatherland, the things were not going too much good for his founder, Kim Woo-Choong, was condemned for the judicial power of South Korea in 2006 to 10 years of prison for embezzlement of funds and fraud. Years behind the proper signature was demanded by the government south - Korean for fraudulent failure.

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Related posts:

1. General Motors: a century of history
2. History of Chevrolet
3. Daewoo Lanos, an opportunity of occasion