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 original version of the car bore the Asüna GT, Asüna SE, Daewoo 1.5i, Daewoo Fantasy, Daewoo Pointer, Daewoo Racer, Passport Optima and Pontiac LeMans names. The "LeMans" nameplate was not used at all for the facelifted model. Five-door hatchback models exported to Europe were badged Daewoo Nexia with the Daewoo Racer name used seemingly at random on various bodystyles. The Daewoo Heaven name has also been used. The Cielo was subsequently replaced by the subcompact Daewoo Lanos and the compact Nubira in 1997, except in some Central Asian markets for which production of the four-door continues in Uzbekistan. The original