Daewo's Bankruptcy
Daewo vehicle brand was established in 1983 to serve in South Korea and is one of the few automobile companies that, despite promising development, raised the flag of bankruptcy in a short time due to the economic crises in the region where it was founded.

Although the Daewo vehicle brand was involved in the automobile industry as late as 1983, it was able to present the vehicle models to the vehicle market of the period thanks to the optimistic attitude of the South Korean state in both material and spiritual aspects in the first years of its establishment.

It is a company established under the name of Daewo vehicle brand Dewoo Sinai. Although the company has continuously released new vehicle models to the market since its establishment, the vehicle brands that it will compete with in the period did not have enough experience in this sector because they were celebrating their 60th anniversary. However, considering all the possibilities, the Company has made strides in order to expand its field of activity and increase brand value by valuing its infrastructure and employees, always ready for competition.Although most of these breakthroughs result in disappointment, there are several different projects that get the desired performance. The projects that enable the company to achieve the desired performance have been given to different vehicle companies for various financial reasons. While this project trading transaction made by Daewo was a logical choice for some, the realization of these projects in Daewo could allow the company to serve even now.

The Daewo vehicle brand did not catch the environment that could increase the number of customers and brand value due to the economic crisis and crises in almost every part of Asia, especially in the Central Asian state, especially towards the end of the 20th century. Even if the company came to the brink of bankruptcy in a short time due to such reasons, it was able to stay in the car industry for a few more years with a few tactics.

Daewo Raises Bankruptcy Flag!
Daewo did not have the full experience, infrastructure and quality service understanding due to its late involvement in the car industry. In addition, the company was on the brink of bankruptcy as a result of the wrong decisions taken by people who actively serve within the company and play a key point in making important decisions, due to the health problems they have experienced. Taking the opportunity of Daewo in such a difficult situation, Chevrolet, an American-based vehicle brand, managed to acquire the company from South Korea for a certain fee and transfer it to its own structure. Daewo stated that it will transfer the Chevrolet brand to the European market as exactly the same.

The Daewo vehicle brand closed its doors in 1999 due to debts and illegal business after its purchase.

Writer on behalf of Antalya Car Hire  Company; Yahya Seba (yahyaseba82@gmail.com