Daewoo its umbrella several major corporations: A further subsidiary was the Daewoo Development Company, funded by cash from the Group and set up to develop hotels. Seven were built in Korea, China, Vietnam, and Africa. They were personally designed and furnished by Kim Woo-jung's socialite wife Heeja, who was chairwoman of the company. The most lavish is the 5-star Hanoi Daewoo Hotel, which cost US$163 million to build in 1996 and was decorated by Heeja with fine art, porcelain, sculptures, and marble. She invited 3,000 guests to the opening, including Russian President Vladimir Putin. Kim is believed to have spent time
Daewoo Motors was launched, the first Daewoo model to be produced in their then new Kunsan motor plant. It was designed by the Italian-based I.DE.A Institute. In March 1997, the mid-sized Leganza followed, also designed by Giorgetto Giugiaro, borrowing some styling cues from the existing 1990 Jaguar Kensington concept car. In 1998 one of Daewoo's best known cars was introduced, the Matiz. The design was again signed by Giorgetto Giugiaro and based on his 1992 "Lucciola" concept car, which was initially imagined as a replacement for the Fiat Cinquecento. This car became Daewoo Motor's best-seller for the next four years. In 1999,