The Daewoo Group Organization

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The Daewoo Group Organization

MSA 650: Organizational Theory
Sunday, March 19, 2000
DAEWOO GROUP ORGANIZATION
FACTS:
Woo-Chong Kim founded the Daewoo Group in 1967. It became one of the Big Four chaebol in South Korea. Daewoo is an industrial and multi-faceted service conglomerate. Daewoo was prominent in expanding its global market through joint ventures all over the world.
During the 1960s, after the downfall of the Syngman Rhee government, the new government intervened to promote growth and development in the country. They increased access to resources, promoted exports, financed industrialization, and provided protection from competition. In exchange for a companys loyalty, the government granted favorable treatment to the chaebol.
In the beginning, the Korean government instigated a series of five-year plans where chaebol were forced to achieve a number of basic objectives. Daewoo did not become a major player until the second five-year plan. Daewoo began trading and benefited from government-sponsored cheap loans by borrowing based on potential export profits. The company initially concentrated on labor- intensive clothing and textile industries that provided high profit margins. The most significant resource in this plan was the South Koreans large workforce.
The third and fourth phase of the five-year plan occurred from 1973 to 1981. During this period, the countrys labor force was in high demand. Competitions from other countries begin eroding Koreas competitive edge. The government responded to this change by concentrating its effort on mechanical and electrical engineering, shipbuilding, petrochemicals, construction, and home base defense initiatives. During this period, Daewoo achieved its general trading company status and anger aroused from competing nations due strict controls.
At the end of this period, Government policy forced Daewoo into shipbuilding. Kim was reluctant to enter this type of industry because he felt that there were other chaebol better suited to handle the heavy engineering project. Nevertheless, Kim soon saw Daewoo earn a reputation for producing competitively priced ships and oilrigs.
During the next decade, the Korean government became more liberal in their economic efforts. Small private companies were encouraged, protectionist imports were loosened, and the government stopped practicing positive discrimination. These moves were designed to encourage free market trade and to force the chaebol to be more aggressiv...

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