Daewoo High Capacity Forklift Corpus Christi

In the early part of the 1960s, South Korea was dealing with a serious trade deficit. The domestic market of the nation was not truly that strong to support domestic businesses. After WWII, when Korea was divided by the Allies, all the natural resources were in the territory north of the 38th parallel. With its stronger military, North Korea, wasted little time before invading the South after the US military withdrawal. In 1953, the country was at peace finally, and South Korea started an intensive drive towards economic growth, transforming rapidly from an agrarian economy to a centrally planned, industrial economy. Determined to never again go through 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, which means "Great Universe," was founded during the year 1967.



Even if the company's initial share capital was just $18,000, Kim and his partners believed that the business will be successful. This proved true, because Daewoo became among the biggest chaebols, or companies of the nation. The corporation had operations in a wide array of businesses, like for instance motor vehicles, building ships, aerospace, heavy industry, telecommunications, consumer electronics, financial services and trading. Exports were greatly promoted and a network of offices was established in different countries. Ultimately, there were more than 100 branches throughout the globe. The business at its peak sold thousands of various items in over 130 nations. By the latter part of the 1990s the company had become considerably overextended. Daewoo was really in debt, and Kim faced charges of corporate wrong doing. The South Korean government ordered the company dismantled in 1999 and other corporations purchased most of Daewoo's holdings.

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