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 S-TEC engine Daewoo S-TEC engine S-TEC or M-TEC is a low-displacement engine range co-developed by Suzuki and Daewoo Motors for use in micro- and subcompact cars. The first model was 0.8 L (796 cc) SOHC inline-triple engine based on the powerplant of the Suzuki Alto. In 2002, the range was extended to 1.0 L and 1.2 L (1150 cc) straight-4 engines and updated with EGR valve to reduce emission. A new engine plant for the updated model T4 was built. The 1.0 version is used in Chevrolet Matiz and the 1.2 in the European Chevrolet Kalos. In 2004 the 0.8 and 1.0