Daewoo Precision Industries K2 is performing field tests. After the tests are complete, the K2A will be mass-produced and will join the armed forces in 2015. Additional production of K2 rifles will remove the M16A1 from active service completely by 2017. Daewoo Precision Industries K2 Daewoo Precision Industries K2 assault rifle was developed by the South Korean Agency for Defense Development and manufactured by S&T Motiv (formerly Daewoo Precision Industries). It is currently the standard service rifle of the Republic of Korea Armed Forces. Shoulder-fired and gas-operated, the K2 is capable of firing both 5.56×45mm NATO and .223 Remington ammunition. The K2 supplanted the
Daewoo Motors Chevrolet Aveo has been assembled for local market at the Chornomorsk subsidiary. Following the bankruptcy of Daewoo Motor in 2001, UkrAVTO corporation bought out the AvtoZAZ holding in 2002. All of the AvtoZAZ manufacturing facilities (most notably MeMZ and the Chornomorsk assembling plant) were reincorporated into ZAZ. The company even adopted a new logo. The Daewoo part in the joint venture was bought out by the Swiss venture Hirsch & CIE in 2003. In August 1992, Daewoo set up Uz-DaewooAuto, a joint venture in Asaka, Uzbekistan, leveraging the presence of a large local ethnic Korean minority. Currently, the plant assembles