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
Doninvest Doninvest Doninvest () was a Russian industrial group that manufactured cars in Taganrog and Aksay, Rostov Oblast. The firm produced Daewoo cars on license for the Russian market under an own brand. Their best known models were the Doninvest Assol, the Doninvest Kondor, and the Doninvest Orion. Doninvest Bank was founded in 1991 by Mikhail Paramonov. In 1995, the bank financed a plan to assemble Pontiac cars in the Krasny Aksay plant. The first Daewoo-branded vehicles began to be manufactured in 1995, at the Krasny Aksay plant. The first models were the Daewoo Nexia and Daewoo Espero. Doninvest began to