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Daewoo Forklift Part
Daewoo Forklift Parts - Kim Woo-Jung, the son of Daegu's Provincial Governor, established the Daewoo group during the month of March of nineteen sixty seven. He first graduated from the Kyonggi High School and next went onto the Yonsei University in Seoul where he completed a Degree in Economics. Daewoo became one of the Big Four chaebol in South Korea. Growing into a multi-faceted service conglomerate and an industrial empire, the company was well-known in expanding its global market securing various joint projects globally.
In the 1960's, park Chung Hee's government began to encourage the growth and development within the nation after taking office at the end of the Syngman Rhee government. Exports were promoted in addition to increasing access to resources and financing industrialization to provide protection from competition from the chaebol in exchange for political support. At first, the Korean government instigated a series of 5 year plans under which the chaebol were required to accomplish a series of particular basic objectives.
Daewoo became a major player when the second 5 year plan was implemented. The company benefited very much from government-sponsored cheap loans based upon the potential profits which were earned from exports. At first, the company concentrated on labor intensive clothing industries and textile which provided high profit margins. South Korea's huge staff was the most significant resource in this plan.
Between the years of 1973 and 1981, when the third and fourth 5 year plans occurred for Daewoo; Korea's labour force was in high demand. The nations competitive advantage began to dwindle due to increased competition from other countries. In response to this change, the government responded by concentrating its effort on electrical and mechanical engineering, construction efforts, petrochemicals, military initiatives and shipbuilding.
Sooner or later, the government forced Daewoo into ship building Although Kim was reluctant to enter the trade, Daewoo swiftly earned a reputation for making reasonably priced ships and oil rigs.
Throughout the following decade, the Korean government became a lot more liberal in economic policies. As the government reduced positive discrimination, loosened protectionist import restrictions and supported small, private businesses, they were able to force the chaebol to be much more assertive abroad, while encouraging the free market trade. Daewoo effectively started various joint projects with European and American companies. They expanded exports, semiconductor design and manufacturing, machine tools, aerospace interests, and various defense products under the S&T Daewoo Business.
Daewoo finally began constructing cheaper civilian airplanes and helicopters compared to North American counterparts. Afterward the business expanded more of their efforts into the automotive industry. Impressively, they became the 6th biggest automobile maker on the globe. Throughout this time, Daewoo was able to have great success with reversing faltering companies within Korea.
Through the 80s and 90s, Daewoo moved into various sectors including computers, consumer electronics, buildings, telecommunication products and musical instruments like for instance the Daewoo Piano.
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