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Daewoo was one of the biggest automobile manufacturers in the 20th century. Founded in the year 1967 under the name of Daewoo Industrial, the automobile manufacturing company was dismantled in the year 1999. Daewoo was one of the legends in the game before the Asian Financial crisis. It was the second largest conglomerate in Korea only behind the Hyundai Group.
Such massive was the company that it had 20 divisions under Daewoo Group. The Daewoo Motor Co. Ltd began when the conglomerate first purchased Saehan Motor in the year 1978. However, it was only in 1983 that Daewoo’s name appeared in its production. The Korean manufacturer first appeared in Britain in the year 1995. During that decade, it became one of the top 10 motor companies in the world when production is taken into consideration.
Similar to other automobile companies, Daewoo too experienced several mergers and acquisitions. It bought SsangYong Motors and sold it within a year. It worked along with General Motors to manufacture cars in Asia. However, it was in 2011 that Daewoo Motor was completely sold to General Motors. It led to the start of General Motors Korea.
Daewoo was once one of the most popular cars in India. Daewoo car model in Matiz became quite popular on Indian roads. Only for Santro to take over once the company landed in financial turmoil. Among the various Daewoo car models, few of the most popular ones are Daewoo Espero, Daewoo Leganza and Daewoo Matiz. Among those 20 companies that were under the Daewoo umbrella, there are still many companies that are thriving independently today.