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 Motors Ford Motor Company and the GM-Fiat alliance. Finally, General Motors was the one who acquired Daewoo Motor's assets. In 2002, Daewoo Commercial Vehicle Company was spun off from parent Daewoo Motor Co. Ltd. In 2004, it was acquired by Tata Motors, India's largest passenger automobile and commercial vehicle manufacturing company. Daewoo owned a share of AvtoZAZ, an automobile manufacturer based in Ukraine, from 1998 to 2003, establishing the AvtoZAZ-Daewoo joint venture. The CKD assembly of the Daewoo Lanos started in 2002 in Ukraine and later it was adopted for full-scale production as the ZAZ Lanos. A version of the Daewoo-developed