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 Motors mini car, which was sold at Daewoo Motor's dealers. DHI was also selling since 1981 the Damas minivan and the Labo mini pickup, all three being based on Suzuki models. When the Royale Series range was discontinued, its models were slightly refreshed and offered under the Prince and Super Salon or Brougham model names until respectively 1997 and 1999. In 1992, the joint-venture with General Motors ended, leaving Daewoo Motor as an independent company. In 1994, Daewoo started importing the second generation Honda Legend to replace the discontinued flagship Imperial, under the name of Arcadia. This year, the LeMans also