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Detail Daewoo Logo

Added : 22nd July 2011
Cat: Automotive
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Description About Daewoo Logo

Daewoo (대우; “Great Universe”) was a large South Korean conglomerate. The company is now divided into Daewoo International, Daewoo Engineering & Construction and Daewoo Corporation. The company operates in many areas, such as steel processing, shipbuilding, the arms industry or the financial business. The car manufacturer Daewoo Motors is now a GM Daewoo to General Motors and has nothing in common except the name of the parent company. Daewoo Heavy Industries was acquired in May 2005 by the company Doosan Infracore. The products such as machine tools are distributed under the provisional name of Doosan Daewoo Doosan Infracore.

daewoo logo

The conglomerate was founded in 1967. Since 1994, Daewoo Motors also present in Germany. In 1998, the company ran into financial crisis and sold the car division to an investor group led by General Motors, after which the division still exists now as GM Daewoo Auto & Technology. Since July 2005, GM Daewoo is an absolute majority of General Motors. Daewoo founder Kim Woo-Choong was on 25 May 2006 after six years because of accounting fraud and sentenced escape in the first instance to 10 years in prison. The sentence was reduced on appeal to eight and a half years. He also needs more than $ 20 billion to pay back money embezzlement.  On 31 December 2007 he was pardoned as part of a special amnesty, along with another 74 convicted criminals by the outgoing South Korean President Roh Moo Hyun.

On 15 November 2007 a ​​court sentenced Lee Tae-yong, former president and CEO of Daewoo International in Seoul for illegal arms exports to Myanmar in the years 2002 to 2006.

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