Daewoo financed industrialization, and provided protection from competition to the chaebol in exchange for a company's political support. In the beginning, the Korean government instigated a series of five-year plans under which the chaebol were required to achieve a number of basic objectives. Daewoo did not become a major player until the second five-year plan. Daewoo benefited from government-sponsored cheap loans based on potential export profits. The company initially concentrated on labor-intensive clothing and textile industries that provided high profit margins because of South Korea's large and relatively inexpensive workforce. The third and fourth of the five-year plans occurred from 1973
Daewoo Motors mini car, which was sold at Daewoo Motor's dealers. DHI was also selling since 1981 the Damas minivan and the Labo mini pickup, all three being based on Suzuki models. When the Royale Series range was discontinued, its models were slightly refreshed and offered under the Prince and Super Salon or Brougham model names until respectively 1997 and 1999. In 1992, the joint-venture with General Motors ended, leaving Daewoo Motor as an independent company. In 1994, Daewoo started importing the second generation Honda Legend to replace the discontinued flagship Imperial, under the name of Arcadia. This year, the LeMans also