Daewoo to the junta. Today five companies with the Daewoo brand name remain: Daewoo Daewoo (, literally "Great Woo", after the first name of founder and chairman Kim Woo-jung) or the Daewoo Group was a major South Korean conglomerate and car manufacturer. It was founded on 22 March 1967 as "Daewoo Industrial" and was declared bankrupt on 1 November 1999. Prior to the Asian financial crisis, Daewoo was the second largest conglomerate in Korea after Hyundai Group, followed by LG Group and Samsung. There were about 20 divisions under the Daewoo Group, some of which survive today as independent companies. There
Daewoo Motors changed to Daewoo Motor Co. Until 1996, all cars were based on models from General Motors. All Saehan models were named Daewoos, the Maepsy being refreshed became the Maepsy-Na. The Royale Series models were kept, Daewoo adding the Royale XQ and Royale Duke (March 1982), Royale Prince (July 1983) and Royale Salon Super (March 1986). Above the Royale range, the Daewoo Imperial flagship luxury car was added in 1989, with styling reminiscent of the contemporary Chrysler Imperial and New Yorker, but also luxury Japanese sedans. It was produced until 1993. The first Daewoo addition was the 1986 Daewoo LeMans, based