| GM Daewoo Info
Daewoo Motors was a subsidiary of the larger Korean Daewoo conglomerate founded by Kim Woo-jung in March 22, 1967 as Daewoo Industrial which quickly expanded into the heavy equipment, construction, electronics and automotive industries (among others). Daewoo Motors arrived as an auto manufacturer in 1995 in the UK and it owned and operated its own retail network. Daewoo was dismantled by the Korean government in 1999 and on May 30, 2006 Kim Woo-jung was sentenced a Seoul court to a fine of approximately $22 billion USD and 8 1/2 years in prison on charges including fraud and embezzlement. The larger Daewoo conglomerate was forced to sell off its automotive arm, Daewoo Motors, to General Motors by the Korean government. Since then, GM has been moving to rebadge Daewoo cars as the low-end models for many brands, including Chevrolet. The Daewoo commercial vehicles division was sold to Tata Motors of India - world's 5th largest medium and heavy commercial vehicle manufacturer. Citing irreparable brand damage in 2004, GM pulled the Daewoo brand of vehicles out of Australia and New Zealand. In 2005 GM changed the name of Daewoo Motors in Europe to Chevrolet and Daewoo cars in Australia and New Zealand wore a Holden badge. In South Africa, Thailand and the Middle East, Daewoo models were already being sold as Chevrolets. South Korea and Vietnam still display the automotive Daewoo marque.
http://en.wikipedia.org/wiki/GM_Daewoo
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