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 Royale the larger Senator A. In January 1983, after Daewoo gained control, Saehan Motors changed its name to Daewoo Motors. At the same time the Saehan Royale was renamed Daewoo Royale, and the Saehan Rekord was absorbed in the Royale range, becoming known as the Royale XQ. Production of the XQ ended in 1987. Until November 1984, Royale body panels were stamped by Holden in Australia, where the Rekord-Senator hybrid was manufactured there as the Holden Commodore. After November 1984, Daewoo began pressing their own panels on a newly installed production line. The E1 bodystyle continued to be built as the