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 car market in 1996. It was replaced there by the Lanos in the autumn of 1997, by which time some 40,000 examples had been sold. In Romania, manufacturing began in 1996, at the newly acquired Daewoo Automobile Romania factory in Craiova, being the first Daewoo model produced at the plant. It was offered only with the sedan body style, and was exported to most countries in Central and Eastern Europe. The GLE version, which was the full option model, included air conditioning, power steering, front and rear electric windows, fog lamps, central locking, tachometer and a cassette player stereo system.