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 two-model line-up in Britain from January 1995. Daewoo was the first manufacturer to sell cars on the British market directly to customers rather than setting up a conventional dealer network, and the appeal of its cars was further enhanced by a low and fixed asking price as well as a comprehensive warranty and free servicing for three years after the car's sale. Despite making use of a design which was by then more than a decade old, the Nexia was one of the most popular budget family cars in Britain and helped Daewoo gain a 1% share of the new