daewoo

A brief history about daewoo: GM Daewoo Auto & Technology (GM Daewoo or GMDAT) traces its origins back to 1937, when it was founded as National Motor in Bupyeong-gu, Incheon, South Korea. Over the decades, the company underwent multiple transformations, reflecting the dynamic and often turbulent history of the Korean automotive industry. In 1962, it became Saenara Motor, the first Korean company to assemble vehicles using modern facilities and imported components. Three years later, it was acquired by Shinjin Industrial, which partnered with Toyota to produce passenger cars for the domestic market.

After Toyota withdrew from the partnership in 1972, the company entered a new joint venture with General Motors, adopting the name General Motors Korea. In 1976, it was renamed Saehan Motor, and by 1982, control passed to the Daewoo Group, which rebranded it as Daewoo Motor. This marked the beginning of a period of global expansion. During the early 1990s, Daewoo grew rapidly, exporting affordable vehicles to markets across Europe, Asia, and South America. Models such as the Espero, Lanos, and Leganza gained recognition for offering international design and engineering at competitive prices.

However, the Asian financial crisis of 1997 severely impacted Daewoo’s finances. Despite acquiring SsangYong Motor in 1998 in an attempt to diversify, the company faced insolvency by 1999. In 2001, General Motors stepped in to acquire most of Daewoo Motor’s assets, forming GM Daewoo Auto & Technology. The new company began operations on October 17, 2002, with GM, Suzuki, and SAIC Motor holding a combined 66.7% stake. The remaining shares were owned by the Korea Development Bank and other domestic investors. This acquisition positioned GM Daewoo as the cornerstone of General Motors’ expansion strategy in Asia.

By 2005, General Motors had increased its ownership to 50.9%, gradually consolidating control. GM Daewoo became a vital global engineering and manufacturing hub for GM, responsible for developing compact cars and small SUVs sold under various GM brands worldwide. The Bupyeong Design Center, inaugurated in 2003, became the creative heart of this transformation, tasked with designing new models based on GM’s Theta platform. This initiative led to the creation of vehicles that would later evolve into the Chevrolet Captiva and other global GM crossovers.

GM Daewoo’s influence extended well beyond South Korea. The company operated manufacturing plants in Vietnam and supplied assembly kits to facilities in China, Thailand, India, and Colombia, producing cars marketed under different GM brands. By 2004, GM Daewoo’s global sales surpassed 900,000 vehicles, marking it as one of South Korea’s top exporters and a key contributor to the global automotive supply chain.

In 2011, GM Daewoo underwent a major rebranding and officially became GM Korea, aligning more closely with Chevrolet’s global identity. The rebrand marked the end of the Daewoo name but preserved its engineering legacy. GM Korea continued producing and exporting small and midsize vehicles under the Chevrolet badge, such as the Aveo, Cruze, and Trax, which became international bestsellers.

In recent years, GM Korea has focused on sustainability, electrification, and next-generation mobility. The Chevrolet Trailblazer, launched in 2020, was one of the first major crossovers developed and built in Korea for the global market. In 2024, the company began production of the Chevrolet Bolt EUV, symbolizing GM’s global shift toward electric vehicles. This positioned GM Korea as a crucial hub for compact EV production within GM’s worldwide portfolio.

As part of GM’s long-term strategy, GM Korea is investing in EV infrastructure and battery manufacturing partnerships with South Korean suppliers. In 2025, the company announced plans to assemble a new electric crossover tailored for Asian and European markets, utilizing GM’s Ultium battery platform. This new direction underscores the transformation from a local automaker with a turbulent past into a key player in GM’s global electrification roadmap.

Today, GM Korea stands as both a symbol of resilience and reinvention. From its origins as a small industrial company in pre-war Korea to its modern role as an engineering and manufacturing center for one of the world’s largest automakers, the company embodies the evolution of South Korea’s automotive industry — one that continues to drive innovation, technology, and global collaboration.