Daewoo dissolution and corruption scandal trillion won (US$10.3 billion), and smuggling US$3.2 billion out of the country. On 30 May 2006, Kim was sentenced to 10 years in prison after being convicted of fraud and embezzlement. On the last day of the trial, Kim tearfully addressed the court, "I cannot dodge my responsibility of wrongly buttoning up the final button of fate." On 30 December 2007, Kim was granted amnesty by President Roh Moo-hyun. Daewoo dissolution and corruption scandal Daewoo dissolution and corruption scandal refer to the 1999-2006 scandal in South Korea involving the bankruptcy of Daewoo, then-country's second largest company, and a subsequent corruption
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