Skip to content

DAEWOO

27 entries

South Korean conglomerate founded in 1967 that also built automobiles and was declared bankrupt in 1999.

Founded: 22 March 1967
Declared bankrupt: 1 November 1999
Origin: Founded as Daewoo Industrial
Status: Former chaebol, split into independent companies

Daewoo was founded on 22 March 1967 as Daewoo Industrial and grew into one of South Korea's largest chaebols, the third largest before the 1997 Asian financial crisis. It was also an automobile manufacturer.

The group was declared bankrupt on 1 November 1999 with debts of about 50 billion dollars. Some of its roughly 20 divisions survived as independent companies.

1967Founded as Daewoo Industrial
1997Asian financial crisis
1999Declared bankrupt