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 Mirae Daewoo Mirae The Daewoo Mirae was a concept car that was unveiled on April 20, 1999, by Queen Elizabeth II at Daewoo's Seoul design studio 'Design Forum' and then again at the 1999 Seoul Motor Show. "Mirae" in Korean means "future". Designed at Daewoo's UK Worthing Technical Centre, somewhat unusually it premiered in two forms: an exterior model, and a separate interior technology showcase model. Production was hinted to commence in 2010, but with the collapse of Daewoo Group in 2000 and the subsequent General Motors takeover, the concept car appears to be unlikely to be produced in the original