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Daewoo Forklift Part
Daewoo Forklift Parts - In March of nineteen sixty seven, the Daewoo Group was established by Kim Woo-Jung. He was the son of the Provincial Governor of Daegu. He first graduated from the Kyonggi High School and afterward went onto the Yonsei University in Seoul where he finished with an Economics Degree. Daewoo became among the Big Four chaebol in South Korea. Growing into an industrial empire and a multi-faceted service conglomerate, the business was well-known in expanding its worldwide market securing numerous joint projects internationally.
In the 1960's, the government of Park Chung Hee began to encourage the growth and development within the nation after taking office at the end of the Syngman Rhee government. Exports were promoted in addition to financing industrialization and increasing access to resources to provide protection from competition from the chaebol in exchange for political support. Firstly, the Korean government instigated a series of 5 year plans under which the chaebol were needed to achieve a series of specific basic aims.
Once the second 5 year plan was implemented, Daewoo became a major player. The business really benefited from cheap loans sponsored by the government which were based on likely profits earned from exports. Initially, the business concentrated on textile and labor intensive clothing industries that provided high profit margins. South Korea's huge workforce was the most significant resource in this particular plan.
Between the years of 1973 and 1981, when the third and fourth 5 year plans occurred for Daewoo; Korea's labour force was in high demand. The countries competitive advantage started to dwindle because of increased competition from various nations. In response to this change, the government responded by focusing its effort on mechanical and electrical engineering, military initiatives, shipbuilding, construction efforts and petrochemicals.
Sooner or later, Daewoo was forced into shipbuilding by the government. Even though Kim was reluctant to enter the trade, Daewoo quickly earned a reputation for producing reasonably priced ships and oil rigs.
Over the following decade, the government of Korea brought much more liberal economic policies by loosening the protectionist restrictions on imports, reducing positive discrimination, and encouraged small private companies. While encouraging free market trade, they were even able to force the chaebol to be a lot more assertive overseas. Daewoo successfully started numerous joint ventures with European and American companies. They expanded exports, semiconductor design and manufacturing, machine tools, aerospace interests, and several defense products under the S&T Daewoo Business.
In time, Daewoo began producing civilian helicopters and airplanes which were priced much less expensive than those built by its U.S. counterparts. The business expanded their efforts in the automotive industry. Impressively, they became the 6th largest car maker in the world. During this time, Daewoo was able to have great success with reversing faltering companies within Korea.
Throughout the 80s and 90s, Daewoo moved into other sectors including consumer electronics, buildings, telecommunication products, computers and musical instruments like the Daewoo Piano.
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