The History of Daewoo

Founded in 1967, the company today has become the leading high-tech company in South Korea. The history of Daewoo - the path of rapid rise, stellar prosperity and tragic disintegration of the car concern, including the arrest and release of its founder - was almost packed into 50 years. Daewoo was founded in 1967 and produced its first car in 1993. The last car with its logo rolled off the assembly line in 2015.

The history of Daewoo began in Korea in 1967. Then the company was founded, which combined several companies producing electronic devices, home appliances and weapons. The unification was initiated by a Korean, Kim Vu Jong. Kim Woo Chong's father was a university professor. Korea was a poor country at the time, so the teenager tried to help his family by selling newspapers. He managed to graduate from a prestigious university in Seoul and get a degree in economics. After university the smart and ambitious young man began to move quickly up the career ladder, and at age 29 he was already director of Hansung Industrial. At the same time the young man decided to create his own industrial empire. Beginning with the weaving industry, he then mastered the machine tool industry, shipyard and then began working at an automotive assembly plant. The history of Daewoo brand began with the development of the company logo and emblem, which then appeared on its cars in 1972. At first, the company worked together with Kia, Hyundai, Motors, Shijin. Its debut was in Germany, when Nexia and Espero models were delivered to the German market in 1995. In Russia, the Nexia appeared even earlier - in 1993.

The founder of concern Kim Woo Chong invested in the construction of car plants in Uzbekistan, India, Iran, Poland and Romania. His policy of joint ventures turned out to be successful, developing on an ascending way. However, the history of the Daewoo brand contains periods, when it had to overcome considerable difficulties. These include the Asian crisis in 1998 and the bankruptcy of the corporation in 1999. The company's founder, Kim Woo Chong, was arrested in 2005.

In 2010, Daewoo has become a leader in the global economy. Its brand has gained worldwide fame in metallurgy, chemistry and research in the international economy. The title 'Great Universe' coined by Kim Woo Chong for Daewoo 50 years ago no longer seems like an exaggeration. Although not in the automotive field, the story of the Daewoo brand continues.

The creator of the Daewoo logo, Kim Woo Chong, gave his logo a deep meaning - the name of the concern 'Great Universe'. The decoration for Daewoo looks like a stylized shell. To the logo, Kim Woo Chong came up with the Daewoo emblem in the form of an unfolded silver lotus flower or shell. Since then, Daewoo's badge for cars has looked the same: an easily recognizable silver emblem, and above or below it, the company's logo in dark blue.

The Daewoo company name, translated from the Korean language, means 'Big Universe'. The silver emblem under the logo represents the lotus flower, which is a symbol of purity, spirituality or divine power in Korea and Japan. The logo for the company's household goods consists of 5 dark blue stripes with spaces between them. It stands for 5 oceans and 6 continents, which should symbolize the desire to unite countries to create a unified world. Do not forget to use Daewoo VIN decoder in order to avoid potential problems when buying a used car.

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