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BUSINESS
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.
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NEWS
May 5, 2001 | MARK MAGNIER, TIMES STAFF WRITER
Kim Woo Choong was always proud of his resume: entrepreneur, global strategist, role model, philanthropist. From humble roots as a newspaper delivery boy, he built Daewoo Corp. into a global behemoth that at its height employed 320,000 people and accounted for up to 10% of the South Korean economy. Now he can add another title: international fugitive. Creditors and prosecutors allege that Kim's "Great Universe"--Daewoo's literal meaning--perpetrated one of the world's biggest frauds.
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BUSINESS
August 11, 1999 | Bloomberg News
Daewoo Group's domestic creditors, abandoning a six-month debt reprieve, said they will force South Korea's second-largest conglomerate to sell all but six of its 25 units. Daewoo will be left with just Daewoo Motor Co. and three other auto-related companies, the trading business of Daewoo Corp. and the heavy-machinery business of Daewoo Heavy Industries Co., creditors said.
BUSINESS
August 11, 1999 | Bloomberg News
Daewoo Group's domestic creditors, abandoning a six-month debt reprieve, said they will force South Korea's second-largest conglomerate to sell all but six of its 25 units. Daewoo will be left with just Daewoo Motor Co. and three other auto-related companies, the trading business of Daewoo Corp. and the heavy-machinery business of Daewoo Heavy Industries Co., creditors said.
BUSINESS
April 30, 1997 | (Bloomberg News)
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.
BUSINESS
June 2, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
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.
NEWS
November 17, 1995 | TERESA WATANABE, TIMES STAFF WRITER
Former South Korean President Roh Tae Woo, the onetime general who once electrified his nation by calling democratic elections after decades of dictatorship, was arrested and jailed Thursday for allegedly taking bribes worth more than $300 million from 30 business tycoons. A five-page arrest warrant detailed Roh's stunning fall from grace, describing an intricate web of avarice and collusion involving some of the nation's best-known business conglomerates. Daewoo Corp.
NEWS
May 5, 2001 | MARK MAGNIER, TIMES STAFF WRITER
Kim Woo Choong was always proud of his resume: entrepreneur, global strategist, role model, philanthropist. From humble roots as a newspaper delivery boy, he built Daewoo Corp. into a global behemoth that at its height employed 320,000 people and accounted for up to 10% of the South Korean economy. Now he can add another title: international fugitive. Creditors and prosecutors allege that Kim's "Great Universe"--Daewoo's literal meaning--perpetrated one of the world's biggest frauds.
BUSINESS
March 4, 1998 | MARY MYCIO, SPECIAL TO THE TIMES
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.
BUSINESS
January 30, 1989 | JESUS SANCHEZ, Times Staff Writer
Getting noticed is not always easy. Just ask the people at Samsung Group. The South Korean company began a campaign about 10 years ago to make American consumers aware of its household wares--like microwave ovens, television sets and videocassette recorders--that were primarily sold under the names of more well-known makers. Now the Samsung brand appears on products sold in pricey department stores and promoted with $8 million worth of annual advertising. The results?
BUSINESS
June 2, 1998 | E. SCOTT RECKARD, TIMES STAFF WRITER
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.
BUSINESS
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.
BUSINESS
March 4, 1998 | MARY MYCIO, SPECIAL TO THE TIMES
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.
BUSINESS
April 30, 1997 | (Bloomberg News)
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.
NEWS
April 18, 1997 | DEAN E. MURPHY, TIMES STAFF WRITER
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.
BUSINESS
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.
BUSINESS
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.
NEWS
April 18, 1997 | DEAN E. MURPHY, TIMES STAFF WRITER
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.
NEWS
January 26, 1996 | From Times Wire Reports
The chairman of South Korea's giant Daewoo Group denied bribery charges in a court appearance but admitted giving the equivalent of $63,300 to a former senior government official. Daewoo Chairman Kim Woo Choong was indicted last month on charges of giving money to former President Roh Tae Woo's chief aide for security and foreign affairs in return for business favors. Kim is already on trial on separate charges of offering bribes to Roh.
BUSINESS
December 14, 1995 | CHRIS KRAUL, TIMES STAFF WRITER
South Korean electronics giant Daewoo will build a $180-million picture tube plant in Mexico near the California border that will employ 3,000 and turn out 3 million television and computer screens annually beginning in mid-1997, a top company official said Wednesday.
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