Daewoo the world. Throughout this period, Daewoo experienced great success at turning around faltering companies in Korea. In the 1980s and early 1990s, the Daewoo Group also produced consumer electronics, computers, telecommunication products, construction equipment, buildings, and musical instruments (Daewoo Piano). Daewoo Group ran into deep financial trouble in 1998 due to the 1997 Asian financial crisis, increasingly thin relationships with the Korean government under President Kim Dae Jung, and its own poor financial management. With the Korean government in deficit, access to cheap and nearly unlimited credit was severely restricted. In 1998, when the economic crisis forced most of the
Daewoo Lacetti for 2008. In China, the cars are marketed as the Buick Excelle sedan or wagon and Excelle HRV (hatchback). The sedan, which is also assembled in China, features an updated exterior. The successor to the Daewoo Lacetti-based "Buick Excelle" is based on the global GM Delta II platform, like the Opel Astra and Chevrolet Cruze and their derivatives. The development center at the Opel plant in Rüsselsheim, Germany, leads the development of this platform. This second generation hatchback Buick Excelle XT, making its debut in 2009, is actually a replica of the Opel Astra hatchback adapted to Chinese conditions. The