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Daewoo Forklift Attachments
Daewoo Forklift Attachments - Kim Woo-Jung, the son of Daegu's Provincial Governor, started 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 finished with a Degree in Economics. Daewoo became among the Big Four chaebol in South Korea. Growing into a multi-faceted service conglomerate and an industrial empire, the business was famous in expanding its worldwide market securing several joint projects globally.
During the 1960's, the government of Park Chung Hee began to encourage the growth and development in the nation after taking office at the end of the Syngman Rhee government. Exports were promoted in addition to financing industrialization and increasing access to resources to provide protection from competition from the chaebol in exchange for political support. Firstly, the Korean government initiated a series of 5 year plans wherein the chaebol were needed to achieve a series of certain basic aims.
When the second 5 year plan was implemented, Daewoo became a major player. The business greatly profited from government-sponsored cheap loans which were based on potential proceeds earned from exports. Initially, the company focused on textile and labor intensive clothing industries which provided high profit margins. South Korea's large labor force was the most significant resource in this plan.
The time period between the year 1973 and the year 1981 was when the third and fourth 5 year plans happened for the Daewoo Business. In this era, the country's workforce was in high demand. Korea's competitive edge began eroding as competition from other countries started to take place. In response to this change, the government responded by focusing its effort on electrical and mechanical engineering, shipbuilding, construction efforts, petrochemicals and military initiatives.
Eventually, Daewoo was forced by the government into shipbuilding. Even if Kim was reluctant to enter the business, Daewoo swiftly earned a reputation for making reasonably priced ships and oil rigs.
During the next decade, the Korean government brought a lot more liberal economic policies by reducing positive discrimination, loosened the protectionist restrictions on imports, and supported private small companies. While supporting free market trade, they were even able to force the chaebol to be a lot more aggressive overseas. Daewoo successfully started numerous joint ventures along with American and European companies. They expanded exports, semiconductor manufacturing and design, machine tools, aerospace interests, and different defense products under the S&T Daewoo Business.
Daewoo eventually started constructing cheaper civilian airplanes and helicopters compared to counterparts in North America. After that the company expanded more of their efforts into the automotive trade. Impressively, they became the 6th biggest car manufacturer on the globe. During this particular time, Daewoo was able to have great success with reversing faltering companies in Korea.
In the 80s and 90s, Daewoo moved into various sectors including consumer electronics, buildings, telecommunication products, computers and musical instruments such as the Daewoo Piano.
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