Komatsu Bulldozer Ripper Cylinder in Spokane - Our business offers a diverse range of different aftermarket parts and accessories for many manufacturers of excavators, loaders, and bulldozers. We've built up our global reputation thru excellent client support.
In the month of March of 1967, the Daewoo Group was founded by Kim Woo-Jung. He was the son of Daegu's Provincial Governor. He first graduated from the Kyonggi High School and then studied at Yonsei University in Seoul where he finished with an Economics Degree. Daewoo became among the Big Four chaebol within South Korea. Growing into an industrial empire and a multi-faceted service conglomerate, the business was famous in expanding its worldwide market securing several joint ventures globally.
In the 1960's, park Chung Hee's government started to promote the development and growth within the country 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 wherein the chaebol were required to accomplish a series of particular basic objectives.
Daewoo became a major player as soon as the second 5 year plan was applied. The business benefited very much from government-sponsored cheap loans based upon the possible income which were earned from exports. Firstly, the company focused on labor intensive clothing industries and textile that provided high profit margins. South Korea's large workforce was the most important resource in this plan.
Between the years of 1973 and 1981, when the third and fourth 5 year plans occurred for Daewoo; Korea's workforce was in high demand. The countries competitive advantage started to dwindle due to increased competition from various nations. In response to this change, the government responded by focusing its effort on electrical and mechanical engineering, shipbuilding, construction efforts, petrochemicals and military initiatives.
Eventually, Daewoo was forced into shipbuilding by the government. Although Kim was reluctant to enter the industry, Daewoo quickly earned a reputation for producing competitively priced ships and oil rigs.
During the following decade, the Korean government brought a lot more liberal economic policies by reducing positive discrimination, loosened the protectionist restrictions on imports, and encouraged private small businesses. While encouraging free market trade, they were also able to force the chaebol to be more aggressive overseas. Daewoo effectively established various joint projects with European and American companies. They expanded exports, semiconductor design and manufacturing, aerospace interests, machine tools, and various defense products under the S&T Daewoo Business.
Eventually, Daewoo began producing civilian helicopters and airplanes that were priced much cheaper than those made by its counterparts in the U.S. The company expanded their efforts in the automotive industry. Impressively, they became the 6th biggest car manufacturer on the globe. All through this time, Daewoo was able to have great success with reversing faltering businesses within Korea.
During the 80s and 90s, Daewoo moved into different sectors consisting of telecommunication products, computers, consumer electronics, buildings and musical instruments like for example the Daewoo Piano.
