Daewoo Daewoo Daewoo (, literally "Great Woo", after the first name of founder and chairman Kim Woo-jung) or the Daewoo Group was a major South Korean conglomerate and car manufacturer. It was founded on 22 March 1967 as "Daewoo Industrial" and was declared bankrupt on 1 November 1999. Prior to the Asian financial crisis, Daewoo was the second largest conglomerate in Korea after Hyundai Group, followed by LG Group and Samsung. There were about 20 divisions under the Daewoo Group, some of which survive today as independent companies. There were about 20 divisions in the Daewoo Group. Daewoo Group had under
Daewoo Royale the larger Senator A. In January 1983, after Daewoo gained control, Saehan Motors changed its name to Daewoo Motors. At the same time the Saehan Royale was renamed Daewoo Royale, and the Saehan Rekord was absorbed in the Royale range, becoming known as the Royale XQ. Production of the XQ ended in 1987. Until November 1984, Royale body panels were stamped by Holden in Australia, where the Rekord-Senator hybrid was manufactured there as the Holden Commodore. After November 1984, Daewoo began pressing their own panels on a newly installed production line. The E1 bodystyle continued to be built as the