Daewoo Motors

This article is about the history of the automotive division of Daewoo. For its successor, see GM Korea.
Daewoo Motors
Formerly
  • National Motors (1937–1962)
  • Saenara Motors (1962–1966)
  • Shinjin Motors (1966–1972)
  • GM Korea (1972–1976) [n 1]
  • Saehan Motors (1976–1982)
  • Daewoo Motor (1982–2002)
Company typePrivate (1935–1965)
Subsidiary (1978–1999)
IndustryAutomotive
Founded1937
Defunct2002; 22 years ago (2002) [2]
FateBankrupt, acquired by General Motors in 2002, restarted as GM Daewoo
Successor
Headquarters
Bupyeong
,
South Korea
ProductsAutomobiles
Parent
  • Shinjin (1965–1976)
  • Daewoo (1982–2002)
SubsidiariesSsangYong (1998–2000)

Daewoo Motors (/ˈdeɪwuː/ DAY-woo) was a South Korean automotive company established in 1937 as "National Motors". The company changed its name several times until 1982 when it became "Daewoo Motors" following its acquisition by the Daewoo Group. After running into financial difficulties,[3] it sold most of its assets in 2002 to General Motors at $1.2 billion, becoming a subsidiary of the American company. In 2011, the name "Daewoo" was definitively removed with the company being renamed GM Korea and the Daewoo brand replaced by the Chevrolet marque.[2][4]

  1. ^ Broken Strategic Alliance: A Case of Daewoo-GM Joint Venture at the SNU Open Repository
  2. ^ a b In Daewoo, GM finds gold in overall gloom on The New York Times By Choe Sang-Hun – May 23, 2006
  3. ^ Daewoo Motor plunges into bankruptcy on The Guardian, 8 Nov 2000
  4. ^ Daewoo cars history as GM Korea switches to Chevrolet on The Korea Herald, 20 Jan 2011


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