Daewoo to the junta. Today five companies with the Daewoo brand name remain: 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
Daewoo LeMans while the three-door was called Daewoo Racer and only the sedan was called LeMans. Korean market cars received a 1.5-litre engine (with ) as there was a severe tax penalty for cars with larger engines. In October 1991 the LeMans received a facelift, with a reworked front and superficially changed taillights. This version was called the Asüna SE/GT in the Canadian market, where it replaced the Passport Optima. When South Korean production of the original LeMans finally came to an end in February 1997, over 1 million had been built. This car was sold in Australia as the "Daewoo 1.5i",