Founders

The founder of Daewoo Shipbuilding and Marine Engineering is Kim Woo-jung. The company was founded in 1967 in Seoul, South Korea. 
The name Daewoo is composed of two parts: "Dae" meaning excellent and "Woo" which is taken from the name of its founder. The company was initially engaged in the production of clothing and textiles, but with increasing wages, it changed direction and turned to the shipbuilding industry. Daewoo gradually diversified its activities and entered other fields, such as electronics, consumer electronics, aviation, weapons, heavy machinery, construction, financial services and communications. In 1982, Daewoo also entered the automotive industry by purchasing a majority share of Saehan Motor. Since then, the company has devoted most of its time and resources to developing the automotive sector. Initially, all Daewoo cars were the same Opel products that were released on the market with slight changes in appearance and different names.