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Daewoo Forklift Parts
Daewoo Forklift Part - In the month of March of 1967, the Daewoo Group was founded by Kim Woo-Jung. He was the son of Daegu's Provincial Governor. He first graduated from the Kyonggi High School and after that went onto the Yonsei University in Seoul where he finished with a Degree in Economics. Daewoo became one of the Big Four chaebol within South Korea. Growing into an industrial empire and a multi-faceted service conglomerate, the business was prominent in expanding its global market securing several joint projects internationally.
After the end of the Syngman Rhee government in the 1960s, Park Chung Hee's new government came aboard to support growth and development in the nation. This increased access to resources, financed industrialization, promoted exports, provided protection from competition to the chaebol in exchange for a company's political support. At first, the Korean government instigated a series of 5 year plans wherein the chaebol were required to attain a series of certain basic aims.
Daewoo became a major player as soon as the second 5 year plan was implemented. The business profited greatly from government-sponsored cheap loans based upon the probable profits which were earned from exports. At first, the business concentrated on labor intensive clothing industries and textile that provided high profit margins. South Korea's huge staff was the most important resource in this plan.
Between the years of 1973 and 1981, when the third and fourth 5 year plans occurred for Daewoo; Korea's workforce was in high demand. The nations competitive advantage started to dwindle because of increased competition from other nations. In response to this change, the government responded by concentrating its effort on electrical and mechanical engineering, construction efforts, petrochemicals, military initiatives and shipbuilding.
In time, Daewoo was forced by the government into shipbuilding. Even though Kim was hesitant to enter the trade, Daewoo quickly earned a reputation for making reasonably priced ships and oil rigs.
Over the next decade, the Korean government brought a lot more liberal economic policies by loosening the protectionist restrictions on imports, reducing positive discrimination, and encouraged private small companies. While encouraging free market trade, they were likewise able to force the chaebol to be more aggressive abroad. Daewoo successfully established numerous joint ventures together with American and European businesses. They expanded exports, semiconductor design and manufacturing, aerospace interests, machine tools, and different defense products under the S&T Daewoo Company.
Eventually, Daewoo started making civilian airplanes and helicopters which were priced much cheaper compared to those made by its counterparts in the U.S. The business expanded their efforts in the automotive industry. Remarkably, they became the 6th biggest car manufacturer on the globe. During this time, Daewoo was able to have great success with reversing faltering companies in Korea.
In the 1980s and the early part of the 1900s, the Daewoo Group expanded into several other sectors comprising buildings, telecommunication products, computers, consumer electronics and musical instruments like for instance the Daewoo Piano.
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