Daewoo DCM1872

Daewoo was founded on 22 march 1967 as Daewoo industrial and was declared bankrupt on 1 november 1999, with debts of about us$50 billion. Prior to the 1997 asian financial crisis, Daewoo was the second-largest conglomerate in south korea after the hyundai group. There were about 20 divisions under the Daewoo group, some of which survived as independent companies. The Daewoo motor brand appeared 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 among the top 10 motor companies in terms of production. Due to financial trouble, Daewoo's automotive arm, Daewoo motor, was sold to general motors (korean) in 2001. The Daewoo nameplate continued in south korea and vietnam until 2011. The former Daewoo facilities are now producing general motors vehicles for asian markets.