Daewoo Drivers

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Company Name: Daewoo

Description: Created in South Korea on March 22, 1967, Daewoo belongs to the business conglomerate of the Daewoo Industrial Co. Ltd. Like various huge enterprises, the company underwent various phases to arrive at its present corporate architecture. On January 1, 1982 the Daewoo Corporation was established as a result of the company’s merger with the Daewoo Development Company.

With a corporate decision to divide the company’s trading and business divisions, the Daewoo Corporation, the Daewoo Engineering and Construction Co., Ltd, and the Daewoo International Corporation divisions were officially created on December 27, 2000. Renewal of the Daewoo International Corporation resulted in its designation as the exclusive handler of the trading business of the conglomeration.

The company’s management team is made up of various luminaries like Young-Won Kang (President, Chief Executive Officer and Director), Hong-Soo Seol (Executive Vice President of Accounting and Finance Division), Byoung-Eun Youn (Chief Operating Officer, Senior Executive Vice-President of Corporate Restructuring Division and Domestic Business Group, and Director), Yang-Yeon Huang (Executive Vice-President of Business Group 1), Chang-Rae Kim (Senior Vice-President of Business Group 2), and Hong-Key Jhun (Senior Executive Vice President of the New Business Development Team).

Other key figures that make up the executive leadership of Daewoo include Young-Sang Kim (Senior Vice President of Steel Division I), Hong-Ki Kim (Senior Vice President of the Chemical Division), Mu-Hyun Baik (Senior Vice-President of the Busan factory), and Han Dong Jung (Senior Vice President of the Daewoo Department Store).

Functioning as a trading company, the Daewoo International Corporation’s business is done through its various divisions which include textiles, media and electronics, commodity and energy, automotive and components, machinery and plant, chemicals, metals, and steel. The company’s steel division is primarily responsible for the production of silicon steel, slab, galvanized, coil, hot rolled steel sheet, steel plate, and steel wire rod products.

The importation and export of non-ferrous and ferrous metal products is handled by the metal division. These metals are basically used in the production of components and automotive parts. This division has active involvement in the areas of tires, moulds, electrical equipments, air conditioning, and engine production industries.

Daewoo’s media and electronics division is directly concerned with the manufacturing of Internet and mobile phones, facsimile machines, Personal Digital Assistants (PDAs), fiber optics, modem (cable and ADSL) devices, telecommunication equipments, computer components, satellite video receivers, optical media players, and various consumer electronics appliances.

In terms of market share and technological advancements in the IT industry, the main competitors of the company are Samsung Corporation and Hyundai Corporation. The company’s global presence is supported by the operation of its subsidiaries in other parts of the world like Australia, Brazil, United Kingdom, Germany, and the United States.