Once upon a time, Daewoo is one of the largest companies in South Korea was. It was bigger than both LG and Samsung, and second only to Hyundai. But these days the name is far from over.
The Korean government replaced the Daewoo Group in 1999. At this point, GM is already about half of Daewoo Motors, a stake which varies over time were in his possession. Since then, the General Daewoo resources used to develop and produce a range of vehicles under other GM divisions, mostly Chevrolet, Daewoo, which sells already been replaced in many markets, major global brand for GM. (The globalization of Chevrolet has to an extent that over the past year, somewhere in the world, a Chevy with each 7.4 seconds was sold escalated.)
One of the few exceptions has been in Korea, where the names mean something Daewoo. But that something is not necessarily good, so GM is phasing out the name in the brand's home market. The development has taken a long time, and will include both the car itself and the company that builds them. GM Daewoo Auto & Technology Co. will officially change the name to GM Korea Co. by the end of the quarter.
repeat in an odd little story that GM-Korea once before, after Detroit went on, more than half of the companies of Toyota, which had known in cooperation with the former Motor Shinjin to 1972. Full details of the announcement in the press release after the jump.
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