Daewoo Motors facts for kids
Daewoo Motor was a big car company from South Korea. It was known for making cars that many people could afford. For a long time, it worked closely with the American car giant, General Motors.
Contents
The Start of Daewoo Motor
The company began way back in 1937. It was first called National Motors. Its first home was in a city called Incheon in South Korea.
Changing Names and Partners
In 1965, the company changed its name to Shinjin Motor. At this time, it teamed up with Toyota, a famous car company from Japan. But this partnership did not last long. Toyota left in 1972.
Later in 1972, Shinjin Motor joined forces with General Motors. They created a new company called General Motors Korea. This was a "joint venture," meaning both companies owned parts of it.
In 1976, the company changed its name again to Saehan Motors.
Daewoo Group Takes Over
A big Korean company called the Daewoo Group bought Saehan Motors in 1982. This is when it became known as Daewoo Motor.
Daewoo Motor became very popular for its cars. Many of these cars were still made with help from General Motors. This partnership continued until the mid-1990s.
Daewoo's Later Years
Towards the end of the 1990s, the Daewoo Group faced some financial difficulties. This meant they had money problems. Because of this, Daewoo Motor was put up for sale.
In 2001, General Motors bought Daewoo Motor. The company was then renamed GM Daewoo. It started making cars for General Motors again. One example is the Chevrolet Aveo, which was based on Daewoo's own Kalos car model.
Finally, in 2011, GM Daewoo changed its name one last time. It became GM Korea, which is what it is known as today.
Images for kids
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Old Daewoo logo
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Daewoo Lacetti
