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Daewoo was a major South Korean automobile company founded in 1967 by Kim Woo Choong. Daewoo Corporation was licensed as general trading company by the government of Korea. By 1986 Daewoo started a joint venture with general Motors and renamed the company Daewoo Motor. They produced small compact cars for a limited time before running into financial problems and going bankrupt. In their successful days, Daewoo was highly tied into the South Korean government both financially and politically. Currently, Daewoo is still active in different industries, but General Motors bought their automobile divisions. GM Daewoo introduced mid-sized car in the 80s named Royale and it was well received in the market then it introduced subcompact Maepsy in 1982. Later in the decade another subcompact LeMans was introduced. It was successful and was in production till 1994. During the 90s decade Daewoo introduced City and mid-sized vehicles. The models include Tico/Fino, Matiz, Espero, Leganza, Prince/Super and Brougham. GM Daewoo also introduced compact Nubira, subcompact Cielo, Lanos and a full-size Chairman in late the 90s. By this time in 1999 GM Daewoo expanded its product lineup to Mini SUV and a Crossover. It launched Korando and Musso and it was received well in the market. The millennium saw GM Daewoo unveil its subcompact Kalos and Gentra models, compact Lacetti, mid-sized Magnus and Tosca. In 2000 Tacuma, a compact multi-purpose vehicle was rolled out and was well received in the market. Later in 2005, the company unveiled full sized models Statesman and Veritas. It also rolled out Winstrom Crossover SUV in 2006 and G2X roadster in 2008.



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