1973-1975

Soon, Daewoo's executives realized that in order to grow, Daewoo would need to diversify its businesses. As a result, Daewoo entered into construction, financial services, and garment manufacturing (including leather goods). Adopting a business strategy that is in use today, Daewoo acquired companies, and their organizational knowledge, in each of these areas. In 1973, Daewoo Industrial went public, and the Korean Government designated it a General Trading Company in 1975. At the end of this time period, Daewoo had 18 domestic subsidiaries and 16 overseas branch offices and had exports of U$172,000,000.

 

1976-1981

It is at this time that Daewoo became a major player on the world stage. Daewoo entered heavy industry in 1976 when the Korean government asked it to acquire an industrial firm that was failing. In addition, Daewoo acquired a shipyard, and in 1978, Daewoo Shipbuilding and Heavy Machinery Ltd. was established. Norway submitted Daewoo's first shipbuilding order in 1979 and dedicated its new shipyard in 1981. Also in 1978, Daewoo acquired 50% of Saehan Motor, later renamed Daewoo Motor Co., Ltd., thus entering the automobile industry. In 1992, Daewoo bought the rest of the company from General Motors. In 1980, Daewoo's first overseas plant, an automobile tire production facility, was dedicted in the Sudan. By 1981, Daewoo's exports had increased to U$1.5 billion and had increased the number of overseas branch offices to 65.

 

1982-1987

In 1982, Daewoo Industrial and the Daewoo Development Co. Ltd. merged to form the Daewoo Corporation. After the merger, which allowed Daewoo to become much more competitive in the international market, Daewoo expanded into the production and marketing of electronics and telecommunications. By 1987, Daewoo's exports reached U$3.3 billion.

 

1988-1989

Realizing the potential for economic growth in the former socialist nations of Eastern Europe, Daewoo established commercial offices in Berlin in 1988, in Prague in 1989, and in Moscow in 1990. Daewoo built a refrigerator manufacturing plant in China and a microwave oven plants in the United Kingdom and France in 1988. The first Korean-Chinese joint venture was formed by Daewoo in 1989 to produce color picture tubes.

 

1990-1995

With the dawning of the new decade, and the coming of the new millenium, Daewoo launched its ambitious Global Management Plan. This plan would help Daewoo to realize its vision of becoming a one of the largest and most successful corporations on the planet. The foundation of this plan consists of global sourcing of resources, optimizing investment opportunities and localizing production bases. During this period, Daewoo started selling passenger cars in the European market. In 1995, Daewoo sold 636,000 motor vehicles worldwide. Continuing to invest in former socialist and developing nations, particularly for the production of motor vehicles, Daewoo invested heavily in China, the Czech Republic, India, Poland, Romania,, Uzbekistan and Vietnam. In addition, Daewoo established manufacturing bases for home appliances and consumer electronics in France, Latin America, Mexico and Vietnam.