Daewoo High Capacity Forklift Fort Worth

During the early part of the 1960s, South Korea was experiencing a serious trade deficit. The nation's domestic market was not strong enough to support domestic industries. After WWII, when Korea was divided by the Allies, all the natural resources were in the territory north of the 38th parallel. North Korea, with its stronger military, wasted little time before invading the South after the withdrawal of the U.S. military. In 1953, the nation was finally at peace, and South Korea started an intensive drive towards economic growth, transforming rapidly from an agrarian economy to an industrial, centrally planned economy. Determined to never again experience hostile invasions and lack of vital resources, South Korea became an economic miracle. Daewoo Group was established by Kim Woo Choong in this period of economic emergence. Daewoo, that means "Great Universe," was founded in 1967.



The initial share capital of the company was just $18,000, but Kim together with his partners believed that the company will become a great success. This proved true, because Daewoo became amongst the largest chaebols, or conglomerates of the country. The business had operations within a huge range of industries, like shipbuilding, motor vehicles, heavy industry, aerospace, telecommunications, consumer electronics, financial services and trading. Exports were promoted a lot and a network of offices was established in different nations. Ultimately, there were more than 100 branches all over the globe. The corporation at its peak sold thousands of various items in over 130 nations. By the latter part of the 1990s the business had become considerably overextended. The corporation was really in debt, and Kim faced charges of corporate wrong doing. The South Korean government ordered the company dismantled in the year 1999 and other businesses purchased most of the company's holdings.

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