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 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.