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About Daewoo

Daewoo Motors is an automotive company owned by the Daewoo Group of South Korea. Daewoo Motors no longer exists, but is now GM Korea. The company was originally established as National Motor in 1937. It was the first automotive company in South Korea. National Motor changed its name many times during its first 40 years of business. In 1982, the Daewoo Group acquired the company, changing its name to Daewoo Motor Company. Many of Daewoo’s cars are based on General Motors cars, due to a 5-year partnership/joint venture of the companies from 1987-1992. From 1995 on, Daewoo began selling their cars in foreign countries. Two models were sold in Europe starting in 1995. As time went on, more models were released in Europe. Notably, the Matiz car performed well in Europe and especially Italy, where it was Car of the Year three years in a row. Daewoo also made its way to North America and Australia in 1997.

When Daewoo was bought out by General Motors in 2001, the company’s cars continued to be sold in foreign markets. However, they are now labeled as Chevrolet cars in most countries. GM said ‘Daewoo has grown up enough to become Chevrolet’ to promote and market the change. Due to a controversy in France, Daewoo had become associated with poor quality and bad ethics. Therefore, changing the name helped Daewoo regain customers and support.