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Daewoo Damas
Daewoo ( ; Hangul: , Hanja: , ; literally "great universe" and a portmanteau of "dae" meaning great, and the given name of founder and chairman Kim Woo-choong) also known as the Daewoo Group, was a major South Korean chaebol (type of conglomerate) and automobile manufacturer. It was founded on 22 March 1967 as Daewoo Industrial and was declared bankrupt on 1 November 1999, with debts of about US$50 billion (equivalent to $ billion in ). 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. History Beginning and development The Daewoo Group was founded by Kim Woo-choong in March 1967. He was the son of the Provincial Governor of Daegu. He graduated from the Kyonggi High School, then finished with an Economics Degree at Yonsei University in Seoul. During the 1960s, after the end of the Syngman Rhee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chaebol
A chaebol (, ; ) is a large industrial South Korean conglomerate run and controlled by an individual or family. A chaebol often consists of multiple diversified affiliates, controlled by a person or group whose power over the group often exceeds legal authority. Several dozen large South Korean family-controlled corporate groups fall under this definition. The term first appeared in English text in 1972. Chaebols have also played a significant role in South Korean politics. In 1988, a member of a chaebol family, Chung Mong-joon, president of Hyundai Heavy Industries, successfully ran for the National Assembly of South Korea. Other business leaders were also chosen to be members of the National Assembly through proportional representation. Hyundai has made efforts in the thawing of North Korean relations, despite some controversy. Many South Korean family-run chaebols have been criticized for low dividend payouts and other governance practices that favor controlling shareh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
