The Debt-Fueled Collapse of Korea’s Daewoo Group

At its peak, Daewoo Group had been Korea's fourth largest business conglomerate along with Hyundai, Samsung, and LG. The sprawling company rocketed upwards on the back of a favorable political environment and heaps of debt. Then in a shocking two year span, the whole group broke apart under the weight of its liabilities, a crushing recession, and widespread fraud. Daewoo's collapse tarnished the legacy of founder and chairman Kim Woo-Choong, who had to flee the country until he received a pardon. In this video, we will look at the rapid rise and startling collapse of Korea's Daewoo Group. Links: The Asianometry Newsletter: asianometry.com/ Patreon: www.patreon.com/Asianometry Twitter: twitter.com/asianometry