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 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