Daewoo was a South Korean conglomerate that operated businesses in various industries including electronics, automobiles, shipbuilding, and construction.
Daewoo was a South Korean conglomerate that operated in various industries, including electronics, automobiles, and construction. The company was founded in 1967 and grew to become one of the largest chaebols (conglomerates) in South Korea.
Daewoo had a successful period in the 1990s when the company ventured into the automotive industry and produced affordable cars that were popular in many countries. However, the 1997 Asian financial crisis hit the company hard, and it faced severe financial problems, leading to its bankruptcy in 1999.
After the bankruptcy, the company's assets were divided and sold off to different companies, with General Motors acquiring the majority of Daewoo Motors' assets, leading to the creation of GM Korea. Today, Daewoo remains a popular brand for electronics such as refrigerators, microwaves, and televisions, although it no longer operates as a conglomerate.
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