hankyoreh

Former Daewoo Group Chairman Kim Woo-choong passed away on Dec. 9. Kim died of complication from pneumonia and other chronic ailments at Ajou University Hospital in Suwon, Gyeonggi Province. Kim founded the Daewoo Group in 1967; the company went on to become one of South Korea’s largest conglomerates until the 1997 Asian financial crisis, when it declared bankruptcy. General Motors acquired Daewoo’s flagship company, Daewoo Motor, in 2002 and renamed the company GM Korea.