June 2, 1998 |
A state appeals court has reversed a $13.4-million verdict against a Daewoo Corp. affiliate, finding little evidence to support allegations that the South Korean-based giant defrauded piano retailer Vernon Schafer Jr. In an unusual move, the 4th District Court of Appeal ruled that Schafer failed to prove that Daewoo International (America) Corp. broke oral promises in an intentional scheme to destroy Schafer's Colton Piano and Organ Co., as the Anaheim resident had contended.
April 30, 1998
* Daewoo Corp. Chairman Kim Woo Choong said General Motors Corp. plans to buy up to 50% of the South Korean company's auto business in a deal expected to be announced in June. But GM said the companies are still negotiating and nothing has been confirmed.
March 4, 1998 |
Capping the largest foreign investment here in seven years of independence, the AvtoZaz automotive factory has launched a joint venture with South Korean conglomerate Daewoo that will pump $1.3 billion into Ukraine's moribund passenger-car industry. "This will not only renew the AvtoZaz company but will also boost Ukraine's economy," AvtoZaz General Director Oleksandr Sotnikov said after a formal signing ceremony Monday in Zaporizhia, 300 miles south of Kiev.
April 30, 1997 |
Daewoo Corp. said it will increase its investment in Poland to up to $2.2 billion by 2001 and double its planned car production to 550,000 a year. Under Daewoo's previous plan, the South Korean company was to invest $1.5 billion in Poland. "We are proving we are not only able to keep our promise, we are making efforts to go much further than the promise," J.C. Suk, president of Daewoo's car venture in Poland, Daewoo-FSO, said at a news conference.
April 18, 1997 |
As a founder of the local Solidarity trade union, Wieslawa Karykowska learned long ago to expect the unexpected from her bosses at the car and truck plant here. But nothing in 29 years on the job, not even a revolution that brought down communism, prepared the old union hand for Yoo Choon Sik. There he was one pleasant morning, the company's No. 1 employee--the president and chief executive officer--picking through flower beds and sidewalk crevices with the mien of a hired hand.
March 26, 1996
An Orange County judge awarded $1.3 million in legal fees and costs to lawyers for former piano distributor Vernon Schafer Jr. in a lawsuit that the Anaheim resident won last fall against Daewoo International (America) Corp., the U.S. subsidiary of giant Daewoo Group in Seoul. Superior Court Judge Mason L. Fenton awarded the fees and costs to the Irvine firm of Rus, Miliband, Williams & Smith, which won a jury verdict of $13.