Daewoo Motor Before GM Korea: Headlong Expansion, Asian Crisis, Failure

A.J. Jacobs

Chapter Chapter 4 in The Korean Automotive Industry, Volume 2, 2023, pp 97-139 from Springer

Abstract: Abstract This chapter offers a brief history of DMC from just prior to the 1997–1998 Asian Crisis until GM’s takeover in 2002. It begins with a section that supplies the reader with some background on the development of DMC through the end of 1996. This is followed by sections that discuss how DMC’s ill-timed annexation of Ssangyong Motor, headlong overseas expansion, and the failure of the Daewoo Group led to its post-crisis demise. Thereafter, a segment reviews DMC’s failed international bankruptcy auction in 2000. The chapter concludes with sections chronicling GM’s slow absorption of the Korean automaker in 2001 and 2002, and the subsequent disposition of its expansive overseas assets.

Date: 2023
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DOI: 10.1007/978-3-031-36453-2_4

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