Daewoo group started as a small textile company and in just 20 years
             developed into second largest Korean chaebol ( family owned
             conglomerate). It had over 250000 employers worldwide, over 30
             domestic companies and 300 overseas subsidiaries, generating sales of
             more than 100 billion dollars annually. However, in 1999 it seemed that
             the 'golden days' of Daewoo were over as it was faced with over 50
             billion dollars dept and had to decide to sell some of its business to carry
             on. Can Daewoo really survive and if yes, how?
             The roots of Daewoo's crisis are in:
             a) Korean Economic System's Structure, Chaebols and
             Asian Crisis
             b) Daewoo corporate structure, Kim Woo-Choong and
             his policies
             The main problem is that Korean economic system is ready for change
             and already changing, so does the government and its policies. However,
             the chaebols such as Daewoo are living in the past and find it difficult to
             adapt to changes. The question is whether there is any place in a changing
             Korea for chaebols at all or they will be soon replaced by smaller but more
            
             Korean Economic System, Chaebols and Asian crisis:
             South Korea's mad rush economic growth was initiated by late dictator
             Park Chung-hee in the early 1970. Park saw export growth as the key for
             economic growth. He provided cheap loans and tax benefits to nurture
             Daewoo and other Korean business into conglomerates that mass
             produced for export markets( http://detnews.com/2001/ autos). Most of
             Chaebols were family owned and all of this families were connected to the
             government which would give them lots of support and get their loyalty.
             As a trouble would appear ...