Whatever happened to Daewoo?
Daewoo’s car division got off to a strong start in the UK after its 1995 launch. Riding high, the Korean carmaker bought SsangYong in 1998, then sold it again two years later when it started to get into financial hot water. Daewoo itself was then sold to General Motors in 2001, the kiss of death for any car company. In 2005, all the Daewoos sold in Europe were rebadged as Chevrolets, and by 2016 the company had cut and run until all it had left on sale over here was the Corvette. Sad times. Daewoo’s Korean presence was renamed GM Korea, wiping out any trace of the old brand.
The wider Daewoo Group had been a Korean behemoth, making televisions, ships, buses and running a chain of hotels. The company went bankrupt in 1999, its chairman fleeing the country before returning to face the music in 2006. None of which would have happened if the Bucrane had been given the green light for production. Probably.