Mirae Asset Daewoo Securities cars and ships and operating steel works. The South Korean state encouraged large and paternalistic conglomerates to use their capital to expand into unrelated businesses, protected by high tariff barriers and arcane regulations. In this way the car and steel giant Daewoo branched out into dealing in securities. In the 1990s this strategy hit problems as South Korea opened its markets to foreign competition and at the same time the founders of these conglomerates grew too old to run their creations and passed the reins on to their less focused children. Daewoo Securities was spun off from the Daewoo Corporation
Daewoo LeMans two-model line-up in Britain from January 1995. Daewoo was the first manufacturer to sell cars on the British market directly to customers rather than setting up a conventional dealer network, and the appeal of its cars was further enhanced by a low and fixed asking price as well as a comprehensive warranty and free servicing for three years after the car's sale. Despite making use of a design which was by then more than a decade old, the Nexia was one of the most popular budget family cars in Britain and helped Daewoo gain a 1% share of the new