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 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