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Daewoo Forklift Part
Daewoo Forklift Parts - Kim Woo-Jung, the son of the Provincial Governor of Daegu, founded the Daewoo group during the month of March of nineteen sixty seven. He first graduated from the Kyonggi High School and afterward studied at Yonsei University in Seoul where he completed an Economics Degree. Daewoo became among the Big Four chaebol in South Korea. Growing into an industrial empire and a multi-faceted service conglomerate, the business was famous in expanding its worldwide market securing various joint projects globally.
After the end of the Syngman Rhee government in the 1960s, the new government of Park Chung Hee came aboard to encourage growth and development within the nation. This promoted exports, increased access to resources, financed industrialization, provided protection from competition to the chaebol in exchange for a company's political support. At first, the Korean government initiated a series of 5 year plans under which the chaebol were required to achieve a series of specific basic objectives.
Daewoo became a major player once the second 5 year plan was implemented. The company profited greatly from government-sponsored cheap loans based upon the likely income that were earned from exports. At first, the business concentrated on textile and labor intensive clothing industries which provided high profit margins. South Korea's large labor force was the most important resource within this plan.
Between the years of 1973 and 1981, when the third and fourth 5 year plans happened for Daewoo; Korea's workers was in high demand. The countries competitive advantage began to dwindle due to increased competition from several countries. In response to this change, the government responded by focusing its effort on mechanical and electrical engineering, military initiatives, shipbuilding, construction efforts and petrochemicals.
In time, Daewoo was forced by the government into shipbuilding. Though Kim was unwilling to enter the business, Daewoo rapidly earned a reputation for producing competitively priced ships and oil rigs.
During the next decade, the government of Korea brought a lot more liberal economic policies by loosening the protectionist restrictions on imports, reducing positive discrimination, and encouraged small private companies. While supporting free market trade, they were even able to force the chaebol to be more aggressive overseas. Daewoo effectively established numerous joint projects with European and American companies. They expanded exports, semiconductor design and manufacturing, aerospace interests, machine tools, and various defense products under the S&T Daewoo Company.
Daewoo finally started making lower priced civilian airplanes and helicopters compared to North American counterparts. Next the company expanded more of their efforts into the automotive industry. Remarkably, they became the 6th largest car manufacturer in the world. Through this particular time, Daewoo was able to have great success with reversing faltering businesses in Korea.
Throughout the 80s and 90s, Daewoo moved into various sectors consisting of telecommunication products, computers, consumer electronics, buildings and musical instruments like for example the Daewoo Piano.
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