Daewoo is a South Korean industry group, present in the field of the Armes, the electric household appliances, the electronic devices, and even of the Automobile. The automobile division, renamed GM-Daewoo, since 2002, is controlled by the second world car manufacturer, General Motors. GM is shareholder of GM-Daewoo with 42% whereas Suzuki is to 27%.

History

The Daewoo conglomerate is founded in 1967 by Kim Woo-choong. Its founder Kim Woo Chong called it Daewoo, which means “Immense Korean Universe”. Benefitting from the economic guidelines wanted by the president Park Chung-hee, it increases and diversifies quickly.

In spite of an excessive debt, the group is maintained thanks to the political supports in several countries and with the position of its leader to the head of the Korean Federation of industries. Its position becomes however increasingly fragile. The president Kim Young-Sam imposes new orientations and its successor Kim Dae-jung wishes the reorganization of the saving in his country. Daewoo is finally dismantled in 1999 by the South Korean government following a fraudulent bankruptcy.

The former owner Kim Woo-choong was condemned by South Korean justice, on May 30th, 2006, at ten years of prison for fraud and embezzlement in connection with this resounding bankruptcy.

Daewoo cars

It is in July 1978 that Daewoo becomes shareholder with 50% of Shinjin Motors, whose activities in Korean automotive engineering go back to 1937. Since June 1972, Shinjin Motors mounts vehicles General Motors. In January 1983, the branch is renamed Daewoo Motors.

The crisis of the group in 1999 sees the production falling. In October 2002, the just automobile branch General Motors and becomes GM-Daewoo.

The Daewoo Business

After having received very many advantages of the French state since 1986 (46 d'€ million), the company leaves Lorraine by laying off all its personnel.

• DAEWOO 1/3, Emission of Radio France , devoted to the Business Daewoo, here episode 1.

• DAEWOO 2/3, Emission of Radio France , devoted to the Business Daewoo, here episode 2.

• DAEWOO 3/3, Emission of Radio France , devoted to the Business Daewoo, here episode 3.

• DSEDH, Emission of Aligre FM , devoted to the tax shelters (and others…).

• the video one of the report the Clearstream business told with a workman from Daewoo…

See too

External bonds

• International Daewoo Official site of International Daewoo.
• Electronic Daewoo Official site of Electronic Daewoo Daewoo.

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