Daewoo

Daewoo Korean for "Great Universe" or the Daewoo Group was a major South Korean chaebol conglomerate . It was founded on 22 March 1967 as Daewoo Industrial and was dismantled by the Korean government in 1999. Prior to the Asian Financial Crisis of 1998, Daewoo was the second largest conglomerate in Korea after Hyundai Group, followed by LG Group and Samsung Group. There were about 20 divisions under the Daewoo Group, some of which survive today as independent companies.

There were about 20 divisions in the Daewoo Group, which before the crisis was the second largest conglomerate in Korea after Hyundai Group, followed by LG Group and Samsung Group.

A further subsidiary was the Daewoo Development Company, funded by cash from the Group, and set up to develop hotels. Seven were built in Korea, China, Vietnam, and Africa. They were personally designed and furnished by Kim Woojoong's socialite wife Heeja who was Chairwoman of the company. The most lavish was is the 5-star Hanoi Daewoo Hotel which cost US 163 million in 1996 and was decorated by Heeja with fine art, porcelain, sculptures, and marble. She invited 3000 guests to the opening, including Russian President Vladimir Putin. There is an 18-hole golf course in the grounds and a swimming pool which is thought to be the largest in Asia. Kim is believed to have spent time there while "on the run".

Daewoo Motor Co., Ltd. was founded when the Daewoo Group purchased Saehan Motor in 1978, but the Daewoo Motor name appeared only in 1983.