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{{Short description|South Korean subsidiary of General Motors}}
{{Dablink|See also [[Daewoo (disambiguation)]]}}
{{Article issues|cleanup =October 2009|update =April 2009|unreferenced =September 2007}}
{{Use dmy dates|date=September 2023}}

{{Infobox company
{{Infobox company
| company_name = GM Daewoo
| name = GM Korea Company
| native_name = {{lang|ko|한국지엠주식회사}}
| company_logo = [[Image:GM Daewoo logo.png|200px|]]
| former_name = GM Daewoo Auto and Technology Co.
| company_type = Subsidiary of [[General Motors|GM]]
| logo = General Motors (2021).svg
| company_slogan =
| image = Bupyeong-gu Incheon Korea.jpg
| foundation = 1937
| image_caption = View of the plant (front) in July 2010
| founder = [[Kim Woo-jung]]
| location_city = [[Bupyeong-gu, Incheon]]
| type = [[Subsidiary]]
| location_country = [[South Korea]]
| predecessor = [[Daewoo Motors]]
| foundation = {{Start date and age|2002}}<ref name="Choe Sang-Hun 2006">{{Cite news |last=Sang-Hun |first=Choe |date=23 May 2006 |title=In Daewoo, GM finds gold in overall gloom |language=en-US |work=[[The New York Times]] |url=https://www.nytimes.com/2006/05/23/business/worldbusiness/23iht-daewoo.html |access-date=4 September 2023 |issn=0362-4331}}</ref>
| key_people = President and CEO: [[Michael A. Grimaldi]]
| location_city = [[Bupyeong District]], [[Incheon]]
| num_employees =
| location_country = South Korea
| industry = [[Automotive industry|Automotive]]
| key_people = Hector Villarreal ([[President (corporate title)|President]] and [[Chief Executive Officer|CEO]]) <br /> Brian McMurray ([[President (corporate title)|President]] of GMTCK)
| products = [[Automobile]]s<br />[[Consumer goods]]
| num_employees = 9,200 (2023)
| revenue =
| industry = [[automotive industry|Automotive]]
| parent = [[General Motors]] (50.9%)
| products = [[car|Automobiles]], [[pickup truck]]s
| homepage = [http://www.gmdaewoo.co.kr/ gmdaewoo.co.kr]
| production = {{increase}} 468,059 (2023)<ref>{{Cite web |title=GM Korea's sales reach record 468,000 units in 2023|url=https://m-en.yna.co.kr/view/AEN20240103008600320|access-date=3 January 2024 |website=[[Yonhap News Agency]]|language=en-US}}</ref>{{efn|The figure only includes the South Korea-built vehicles.}}
| revenue = {{decrease}} {{SK won|12.92 [[Trillion (short scale)|trillion]]|link=yes}} (2014)<ref name="KH">{{Cite web |last=Kang |first=Su-min |date=11 April 2015 |script-title=ko:르노삼성과 한국GM, 지난해 전혀 다른 길 걸었다 |trans-title=Renault Samsung and GM Korea were in a completely different path last year |url=http://www.businesspost.co.kr/news/articleView.html?idxno=11412 |access-date=25 November 2015 |website=businesspost.co.kr |publisher=Business Post |language=ko}}</ref>
| parent = [[General Motors]]
| divisions = {{Unbulleted list
| [[Chevrolet]]
| [[Cadillac]]
| [[GMC (automobile)|GMC]]
| GM Technical Center Korea
}}
{{Collapsible list
| title = Former
| [[Buick LaCrosse#Alpheon|Alpheon]]
| [[Chevrolet Europe]]
| [[Daewoo Motors|Daewoo]]
| [[GM Vietnam]]
}}
| homepage = {{URL|gm-korea.co.kr}}
| module = {{Infobox Korean name
| child = yes
| hangul = 한국지엠
| hanja = 韓國지엠
| rr = Hanguk Jiem
| mr = Han'guk Chiem
}}
}}
}}
'''GM Korea Company'''{{efn|Formerly ''GM Daewoo Auto & Technology Co.''<ref name="Choi He-suk 2011">{{Cite news |last=He-suk |first=Choi |date=20 January 2011 |title=Daewoo cars history as GM Korea switches to Chevrolet |language=en |work=Choi He-suk |url=https://www.koreaherald.com/view.php?ud=20110120000754 |access-date=4 September 2023}}</ref>}} ({{langx|ko|한국지엠주식회사}}){{efn|Also spelled as {{lang|ko|한국GM주식회사}}, {{IPA|ko|haːnɡuk tɕ͈i em dʑuɕikʰøsa|IPA}}}} is the South Korean [[subsidiary]] of [[multinational corporation]] [[General Motors]] and the third largest [[automobile manufacturer]] in South Korea. GM Korea's roots go back to the former [[Daewoo Motors]] vehicle brand, which was split from its parent company, [[Daewoo]], in 2002.<ref name="Choe Sang-Hun 2006" /> In addition to importing vehicles for sale into South Korea, the company also operates three manufacturing facilities producing vehicles for the domestic market and for export. The company also operates GM Technical Center Korea, a design, engineering, research & development facility for various GM products, primarily small-size cars.


== History ==
'''GM Daewoo Auto & Technology''' ('''GM Daewoo''' or '''GMDAT''') was first established as '''National Motor''' in 1937 in [[Bupyeong-gu, Incheon]], [[South Korea]]. After changing its name to '''Saenara Motor''' in 1962, Saenara Motor was bought by Shinjin Industrial in 1965, which changed its name to '''Shinjin Motor''' after establishing collaborations with [[Toyota]].
=== Predecessors ===
{{See also|Daewoo Motors}}
GM Korea's roots go back to the remnants of the [[Korean War]] and [[Shinjin Motors]], which launched its business by rebuilding scrapped US military vehicles. Shinjin Motor was first established as National Motor in 1937 in Bupyeong-gu, Incheon, [[Korea under Japanese rule|Japanese Korea]]. After changing its name to Saenara Motor in 1962, Saenara Motor was bought by Shinjin Industrial in 1965, which changed its name to Shinjin Motor after establishing a partnership with [[Toyota]]. After Toyota's withdrawal in 1972 (to keep doing business with China, which would not trade with companies who engaged in South Korea or Taiwan), Shinjin Motor changed its name to GM Korea (GMK) in 1972 with [[General Motors]] purchasing a 50% stake in the company from Toyota in 1972; however GMK was renamed again in 1976 to [[Saehan Motors]].


{{multiple image
After Toyota's withdrawal in 1972, Shinjin Motor started a joint venture with [[General Motors]] under the name '''General Motors Korea''' (GMK), but was renamed again in 1976 to '''[[Saehan Motor]]'''. After the [[Daewoo|Daewoo Group]] gained control in 1982 the name was changed to '''Daewoo Motor'''. In the early 1990s the company started to expand heavily throughout the world. Until 1996 all cars were based on models from [[General Motors Corporation|General Motors]]. After the [[Asian financial crisis]] started in 1997, it took over the troubled [[4WD]] specialist [[SsangYong Motor Company|SsangYong]] in 1998, but ran into financial trouble in 1999.
|align = left
|direction=
|total_width= 400
|image1 = 20150920 GM Korea Rekord 1.jpg
|caption1 =
|image2 = 1977년 3월 서울특별시 영등포구 여의도광장 최초 국산소방차 인수식08.jpg
|caption2=
|footer= Two models by defunct GM Korea (GMK), predecessor of the current company, (left): GMK Rekord Royale (a rebadged [[Opel Rekord Series D]]) and 1977 [[fire engine|firetrucks]] bodied by Ha Dong-hwan.
}}
[[Korea Development Bank]] (KDB), the company's creditor, took over management in 1976 as the company found itself unable to cope with competition from [[Hyundai Motor Company|Hyundai]] and [[Kia]]. After [[Daewoo]] gained control in 1982, the name was changed once more to Daewoo Motor. In the early 1990s the company started to expand heavily throughout the world. Until 1996 all Daewoo cars were based on GM-designed models. After the [[1997 Asian financial crisis]] reached South Korea, Daewoo took over the troubled SUV manufacturer [[SsangYong Motor|SsangYong]] in 1998, but ran into financial trouble and was forced to sell the company off in 2001 to GM affiliate [[SAIC Motor|SAIC]].


=== Formation of GM Daewoo ===
In 2001 General Motors decided to buy most of ''Daewoo Motor'''s assets to form ''GM Daewoo''. The new company started operations on [[October 17]], [[2002]], with GM and its partners [[Suzuki]] and [[Shanghai Automotive Industry Corporation|SAIC]] holding a stake of 66.7% with investments of US$400 million. The GM holding was formally purchased by [[GM Holden Ltd]] which holds a seat on the board.<ref>http://awresearcher.net/VMSI/display.asp?vmsiid=2&contentid=12778</ref> The remaining equity stake of 33.3% was held by Korea Development Bank and several other Korean creditors with investments of US$197 million. The deal did not include 15 plants, especially Daewoo's oldest plant in [[Bupyeong-gu]] which now operates under the name Daewoo Incheon Motor Company as a supplier to GM Daewoo. In 2004, [[Tata Motors]] purchased [[Tata Daewoo Commercial Vehicle|Daewoo's Truck manufacturing unit]]. In February 2005, GM invested US$49 million to raise its share in the company to 48.2%. As of 2008, [[General Motors]] owns 50.9%, [[Suzuki]] 11.2 %, the [[Shanghai Automotive Industry Corporation]] 9.9 % and the [[Daewoo Motor Creditors Committee]] the remaining 28%.<ref> http://www.gm.com/corporate/about/global_operations/asia_pacific/kore.jsp </ref>
In 2001, General Motors bought most of Daewoo Motor's assets to form "GM Daewoo Auto & Technology". The new company started operations on 17 October 2002, with GM and its partners [[Suzuki]] and [[SAIC Motor|SAIC]] holding a stake of 66.7% with investments of US$400 million. The GM holding was purchased by GM's Australian subsidiary, [[Holden]], which held a seat on the board and was legally responsible for GM Daewoo.<ref>http://awresearcher.net/VMSI/display.asp?vmsiid=2&contentid=12778{{dead link|date=August 2011}}</ref> The remaining equity stake of 33.3% was held by Korea Development Bank and several other Korean creditors with investments of US$197 million. The deal did not include 15 plants, including Daewoo's oldest plant in [[Bupyeong-gu]] which is now operated under the name Incheon Motor Company as a supplier to GM Daewoo. In 2004, [[Tata Motors]] purchased [[Tata Daewoo Commercial Vehicle|Daewoo Commercial Vehicle]], which had been spun out of bankrupt Daewoo Motor Co. in 2002. In February 2005, GM invested US$49 million to raise its share in the company to 48.2%. In 2010, [[General Motors]] owned 82.9%, SAIC 9.9%, and the Daewoo Motor Creditors Committee the remaining 7.2%.<ref>{{Cite web |title=GM – Global Operations – Korea |url=http://www.gm.com/corporate/about/global_operations/asia_pacific/kore.jsp |archive-url=https://web.archive.org/web/20090228101335/http://www.gm.com/corporate/about/global_operations/asia_pacific/kore.jsp |archive-date=28 February 2009 |access-date=7 September 2011 |publisher=General Motors}}</ref>


On 25 November 2003, the design center was relocated to the new two-story building at the [[Bupyeong-gu]] headquarters. The first car to be produced under the GM Daewoo nameplate was the 2002 [[Daewoo Lacetti]], replacing the [[Daewoo Nubira|Nubira]]. This car was developed in South Korea under the Daewoo Motor era, but it gradually became a GM [[world car]], sold under many different marques all around the globe. After a few years without any new cars to present, in 2005, GM Daewoo introduced the [[Holden]]-based [[Holden Caprice#WL|Statesman]] luxury car replacing the discontinued [[Daewoo Chairman]]. The third generation of [[Daewoo Matiz|Matiz]] was introduced, refreshed by the GM Daewoo design team, and an evolution of the four-door [[Daewoo Kalos|Kalos]] appeared: the [[Daewoo Kalos#T250|Gentra]].
GMDAT has design, engineering, research & development facilities that are involved in development for various GM products. On [[November 25]], [[2003]], the design center was relocated to the new 2-story building at the [[Bupyeong-gu]] headquarters.


In early 2006, GM Daewoo presented [[Daewoo Tosca|Tosca]], the replacement of the [[Daewoo Magnus|Magnus]]. GM Daewoo's official press releases says that Tosca is an acronym for "Tomorrow Standard Car". The end of the same year, GM Daewoo introduced the [[Daewoo Winstorm|Winstorm]], its first proper [[sport utility vehicle]] (SUV), which was, as the Lacetti, sold worldwide under different brands and names including [[Opel Antara]], [[Chevrolet]] Captiva and [[Holden]] Captiva, and previously [[Saturn (car)|Saturn Vue]] before the demise of the Saturn brand in 2010. It featured a [[common rail]] [[Diesel engine]] for the first time in a Daewoo vehicle, in addition to regular four and six cylinder gasoline engines. The diesel engine design was licensed from the Italian engine maker [[VM Motori]].
It has five manufacturing facilities in [[Korea]] as well as an assembly facility in [[Vietnam]]. In addition, GM Daewoo provides market and brand-specific vehicle kits for assembly at GM facilities in [[China]], [[Thailand]], [[India]], [[Colombia]] and [[Venezuela]]. In 2008, GM Daewoo sold in Korea and exported more than 1.9 million units, including [[Complete knock down|CKD]] products. GM Daewoo now produces vehicles and kits for [[Chevrolet]], [[Buick]], [[Opel]], [[Vauxhall Motors|Vauxhall]], [[Pontiac]], [[Holden]] and [[Suzuki]] that are offered in more than 150 markets on six continents.


2007 saw the introduction of the Lacetti and Kalos hatchback facelift's [[wagon]] version, becoming the Gentra X. For 2008, GM Daewoo introduced the first Korean-branded roadster: the [[Saturn Sky|G2X]] sports car, a [[badge-engineered]] [[Pontiac Solstice]]/[[Saturn Sky]] which was based on the [[GM Kappa platform]], and started to sell the [[Opel Antara]] under the name of [[Daewoo Winstorm|Winstorm MaXX]]. The Statesman flagship was also replaced by the new [[Daewoo Veritas|Veritas]] which is now based on the [[Holden Caprice#WM|Holden Caprice V]]. In 2008, GM Korea built more than 1.9 million vehicles, including [[Complete Knock Down|CKD]] products.
== Car models ==
Daewoos were first sold around the world as the [[Daewoo LeMans]] or [[Pontiac LeMans]] or known as [[Daewoo Racer]], a model based on the [[Opel Kadett]] E. The [[Saehan Bird]], based on the [[General Motors T-car]] platform, was exported to Malaysia as the Opel Gemini; this was also known in South Korea as the [[Daewoo Maepsy]]. A larger [[Opel Commodore]]-based model, called the [[Daewoo Royale]] was also available. The [[Daewoo Prince]], which had commonalities with the Australian [[Holden Commodore]], was built until 1993.


Late 2008 and early 2009 were a major period for GM Daewoo with the introduction of the all-new [[Chevrolet Cruze|Lacetti Premiere]], which is based on the [[Chevrolet Cruze]], a very important compact car for GM divisions worldwide. The newly rechristened third generation of the Matiz was added to the range in 2009 as the [[Daewoo Matiz#Third generation (M300; 2009)|Chevrolet Spark]].
In the 1990s, Daewoo expanded its presence under its own brand, notably in Europe, where it sold the [[Opel Ascona]]-based [[Daewoo Espero|Espero]] and Kadett-based [[Daewoo Nexia]] (also Racer and Cielo in the domestic market; the latter is often spelled as ''Ciero'' for more [[Korean language|Korean]]-like sound. The Cielo was named Heaven (''Cielo'' means [[heaven]] in [[Spanish language|Spanish]]) in the [[Chile]]an market.


2010 saw the introduction of the [[Chevrolet Orlando]] and ''Alpheon'', a local version of the [[Buick LaCrosse]].
[[Ssangyong]] models [[SsangYong Korando|Korando]] and [[Ssangyong Musso|Musso]] were sold briefly under the Daewoo brand in certain European countries (most notably France and Germany) from 1999 to 2001.


=== Establishment of GM Korea ===
[[Image:Maroon Daewoo Espero-001.jpg|thumb|right|The [[Daewoo Espero]]]]Under the supervision of Dr. [[Ulrich Bez]], Daewoo developed its own models not based on any GM platform. These were codenamed as the T100, J100 and V100, reflecting the code names used by General Motors, with [[Italdesign Giugiaro]] working on the T100 and V100. The J100 was designed by IDEA of Italy. These were exported from late 1998 to Daewoo Motor America as the sub-compact [[Daewoo Lanos]], compact [[Daewoo Nubira]] ("to go everywhere/anywhere" in Korean), and the mid-size [[Daewoo Leganza]] (similar to "eleganza" in [[Italian language|Italian]]). Other markets received these three cars, too. The Leganza's styling was reportedly based on an Italdesign show car based on [[Jaguar XJ]]-12 mechanicals; the real thing was more modest, with [[Holden]]-built 2.2&nbsp;L engines shipped from [[Melbourne]] to Daewoo's Korean plant.
[[File:Gm korea logo.png|thumb|120px|Former logo of GM Korea]]
On 20 January 2011, General Motors announced that GM Daewoo would be renamed ''GM Korea'' "to reflect Daewoo's heightened status in the global operations of GM",<ref>{{Cite web |date=20 January 2011 |title=GM introduces new name, brand for S. Korean unit |url=http://english.yonhapnews.co.kr/business/2011/01/20/33/0501000000AEN20110120004100320F.HTML |access-date=7 September 2011 |publisher=[[Yonhap News Agency]]}}</ref> effective March 2011. Most of the remaining Daewoo vehicles were [[Rebadging|rebadged]] as [[Chevrolet]]s, although the Damas/Labo microtrucks were sold without a brand name since 2011.<ref name="noname">{{Cite web |date=6 July 2011 |title=엠블럼 없는 유일한 車?…한국GM '다마스·라보' |trans-title=The only cars without emblems? GM Korea 'Damas Labo' |url=https://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=003&aid=0003950346 |archive-url=https://web.archive.org/web/20131110002554/https://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=003&aid=0003950346 |archive-date=10 November 2013 |publisher=Naver Corp. |language=ko}}</ref>


GM's luxury division [[Cadillac]] entered South Korea in 1996 and, with a record sales year of 28,000 units in 2017, South Korea became the fifth largest market for Cadillac worldwide (after China, the United States, Canada and the Middle East).
The [[Daewoo Rezzo|Rezzo/Tacuma]] minivan and the [[Daewoo Matiz|Matiz/Spark]] micro-car are other models sold by Daewoo in various markets. The [[Daewoo Magnus|Magnus/Evanda]] is a development of the Leganza. The [[Daewoo Kalos]] subcompact was released in late 2002. A new version of the Nubira sedan was released in 2003 while the [[Daewoo Lacetti]], a 5-door [[hatchback]] version of the Nubira, followed in 2004. The Kalos and the Lacetti were styled by Giugiaro, and styling of the Nubira sedan was the responsibility of [[Pininfarina]]. These models are sold under the Chevrolet brand in Europe.


In 2011, the [[Daewoo Tosca]] was replaced by a locally built version of the [[Chevrolet Malibu]].
== Overseas engagements ==
Daewoo owned a share of [[ZAZ]], an automobile manufacturer based in [[Ukraine]], from 1998 to 2003. The [[Complete knock down|CKD]] assembly of the Daewoo Lanos started 2002 and lately it was adopted for full-scale production as the [[ZAZ Lanos]]. A version of the Daewoo-developed [[Chevrolet Aveo]] is being assembled for local market at the [[Illichivsk]] subsidiary.


More recently, the low annual incomes a result of lower levels of sales, led to closing the non-profitable factories of the GM Korea unit.<ref>{{Cite web |title=Lost in translation? GM plant shutdown shocks South Korea |url=https://www.reuters.com/article/us-gm-southkorea/lost-in-translation-gm-plant-shutdown-shocks-south-korea-idUSKCN1G00TO |url-status=live |archive-url=https://web.archive.org/web/20230417015442/https://www.reuters.com/article/us-gm-southkorea/lost-in-translation-gm-plant-shutdown-shocks-south-korea-idUSKCN1G00TO |archive-date=17 April 2023 | date = 2018-02-16 | first1 = Hyunjoo | last1 = Jin | first2 = Ju-min | last2 = Park | first3 = Cynthia | last3 = Kim | website=[[Reuters]]}}</ref>
[[Image:Daewoo Lanos front 20080110.jpg|thumb|left|A [[Daewoo Lanos]]]]In August 1992, Daewoo set up [[UzDaewooAuto]], a joint venture and a factory in [[Asaka, Uzbekistan|Asaka]] city, [[Andijan Province|Andizhan]] province, [[Uzbekistan]], leveraging the presence of a large [[Koryo-saram|local ethnic Korean minority]]. Currently, the plant assembles the Matiz and the Nexia for both the local market and export, as well as the Lacetti hatchback and sedan for the domestic market only.


=== GM withdrawal from Europe and crisis ===
Daewoo also invested into Poland's [[Fabryka Samochodów Osobowych]] in 1995, forming a joint venture for assembly of the Matiz microcar, a successor to the [[Daewoo Tico|Tico]] that was very popular in the [[Eastern Europe]]an market. Since January 2005 FSO began to produce Matiz and Lanos under their own trademark.
Starting from 2014, GM halted sales of all Chevrolet-branded cars in Europe, India, East and South Africa, most of which had up to then been manufactured completely or in part by GM Korea. In 2017, General Motors finalized its move out of the European market by selling the [[Opel]] and [[Vauxhall Motors|Vauxhall]] brands to [[PSA Group]] (now part of [[Stellantis]]). This caused closure of GM Korea's Gunsan plant due to low productivity. The [[GM Vietnam]] vehicle assembly plant in [[Hanoi]], which was managed by GM Korea, was sold to [[VinFast]] in 2018.<ref name="ft.com">{{Cite web |title=GM forms partnership with Vietnam's VinFast |url=https://www.ft.com/content/a8da1eb4-7aa9-11e8-bc55-50daf11b720d |url-access=subscription |url-status=live |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/a8da1eb4-7aa9-11e8-bc55-50daf11b720d |archive-date=10 December 2022 |website=Financial Times}} {{subscription required}}</ref>


In 2019, GM Korea split its R&D unit, GM Technical Center Korea (GMTCK), into a separate firm despite protests by unions worried about potential layoffs at factories.<ref>{{Cite web |title=GM’s Largest R&D Hub Outside U.S. Comes Down to Korean Talent |url=https://www.bloomberg.com/news/articles/2022-04-29/gm-s-largest-r-d-hub-outside-u-s-comes-down-to-korean-talent |access-date=10 April 2023 |website=[[Bloomberg News]] |language=en-US}}</ref> General Motors announced on 16 February 2020 that "as part of a strategy to exit markets that don't produce adequate returns on investments" it was exiting from all right-hand drive markets worldwide, including Australia, New Zealand, and Thailand. This coincided with the demise in 2020 of the [[Holden]] brand, hitherto a large distributor of GM Korea products.
Since 1995, Daewoo has acquired a factory in [[Craiova]], [[Romania]] which was producing a derivate of a [[Citroën]] model, the [[Oltcit]]. The entire production facility was refurbished to mainly produce the Cielo model and later, other models. Until 2008 it was producing the Daewoo Cielo, Matiz and Nubira models for the Romanian market, but also car parts for export, such as engines and gearboxes to GM Daewoo and to other companies. The factory was acquired by the Romanian Government and sold to Ford in 2007 (the official agreement was signed on 21 March 2008). The production of Daewoo models was stopped in May, 2008, and the name "Daewoo Automobile Romania" was changed to "Ford Romania".


In April 2022, GM Korea's Bupyeong 2 plant was closed due to reduced productivity.<ref>{{Cite web |date=25 April 2022 |title=[화요기획] GM 부평2공장 연내 폐쇄 결정...인천 지역경제 요동 |url=http://www.joongang.tv/news/articleView.html?idxno=53925 |access-date=25 April 2022 |website=중앙신문 |language=ko}}</ref> The Spark and Malibu were to be discontinued in the South Korean market by August 2022.<ref>{{Cite web |last=Koo |first=Ki-seong |date=12 July 2022 |title=한국지엠, 스파크·트랙스·말리부 단종 수순 |url=http://autotimes.hankyung.com/apps/news.sub_view?popup=0&nid=02&c1=02&c2=02&c3=00&nkey=202207111604461 |access-date=12 July 2022 |website=[[The Korea Economic Daily]] |language=ko}}</ref>
In 1998, the low-volume assembly of the Lanos, Nubira and the Leganza started in [[Taganrog]], [[Russia]], at the [[TagAZ]] factory. The cars were sold on the local market under the ''Doninvest'' brand, as the ''Assol'', the ''Orion'' and the ''Kondor'', respectively. The project did not have much success, so TagAZ recently turned to [[Hyundai Motor Company|Hyundai]] and started producing the [[Hyundai Accent]] and the [[Kia Rio]]


The Bolt EV and Bolt EUV were discontinued in the South Korean market on 1 December 2023.<ref>{{Cite web |title=Site Maintenance |url=https://www.chevrolet.co.kr/electric/bolt-euv |access-date=2024-02-08 |website=www.chevrolet.co.kr}}</ref><ref>{{Cite web |title=Site Maintenance |url=https://www.chevrolet.co.kr/electric/bolt-ev |access-date=2024-02-08 |website=www.chevrolet.co.kr}}</ref>
Following the [[General Motors Corporation|GM]] buyout in 2002, GM Daewoo lost interest in its overseas assets; the deals on supplies of pre-assembled CKD kits will end in 2005 and the facilities are likely to rely on its own production capabilities from that point on.


== Badge engineering ==
== Manufacturing facilities ==
* [[Bupyeong-gu]]: vehicle assembly and gasoline/LPG engine manufacturing (production capacity: est. 440,000/year)
GM changed the Daewoo name to something with more prestige in order to increase sales in the local market. GM decided to comply and started selling the Daewoo Lacetti as Chevrolet Optra. This was the first time GM sold [[badge engineering|re-badged]] Daewoo cars.
* [[Changwon]]: vehicle assembly and gasoline/LPG engine manufacturing (production capacity: est. 210,000/year)
* [[Boryeong]]: transmission and engine components manufacturing


=== Former manufacturing facilities ===
No Daewoo-built vehicles were offered in the US for the 2003 model year. However, Daewoo exports found their way to countries such as Canada, India and the [[People's Republic of China]]. In some places of the world (notably Canada, India and Israel) the Daewoo brand did not exist at the time anymore and Daewoo cars were sold as "Chevrolet." [[Image:Chevrolet Optra SRV 01.jpg|thumb|left|A [[Chevrolet Optra]] in [[India]]]]
;South Korea
* [[Gunsan]]: vehicle assembly and diesel engine manufacturing (production capacity: est. 260,000/year). Its plant closed on 31 May 2018. The factory was later acquired by the Chinese electric commercial vehicles company [[Geely#Farizon|Farizon]], which in conjunction with Myoung Shin. The company plans to manufacture [[Knock-down kit|CKD]]-made electric trucks for the South Korean market.<ref>{{Cite news |date=2023-06-01 |title=군산공장 인수한 명신, 4년 동안 생산은 전무 |language=ko |work=Hankyong |url=https://www.hankyung.com/article/2023060132722 |access-date=2023-06-01}}</ref>


;Vietnam
The re-branded Daewoo models sold in Israel succeeded far beyond GM's expectations so the Daewoo re-branding strategy was adopted to other countries as well. In most European countries however, GM retained the Daewoo brand and original model names until December 31, 2004.
* [[Hanoi]]: [[GM Vietnam]] vehicle assembly (production capacity: est. 11,000/year). Acquired by [[VinFast]] in 2018.<ref name="ft.com"/>


== Model range ==
GM Daewoo-built vehicles returned to the US market in 2004 and continue to be marketed to this day. The [[Chevrolet Aveo]], [[Suzuki Forenza]] and [[Suzuki Reno]], all offered in the US market, are re-badged Daewoos (they are sold in South Korea as the Daewoo Gentra, Lacetti sedan, and Lacetti hatchback, respectively). Suzuki stopped offering rebadged Daewoos in the US market after the 2008 model year, though some few Forenzas and Renos from 2008 continue to be sold.


=== Current locally manufactured models ===
In 2005, GM branded most Daewoos as [[Chevrolet]]s in most markets, with Europe starting in January. Exceptions are China (where the cars are rebadged as Buick and Chevrolet), South Korea (GM Daewoo), Vietnam (where Daewoo is retained), Australia and New Zealand ([[Holden]]), the United States (Chevrolet, Suzuki), and Canada (Chevrolet, Pontiac, and Suzuki). The intent of utilizing the Chevrolet brand worldwide is to make Chevrolet a global brand of GM. One casualty of this is that the "Nubira" name disappeared in favor of "Lacetti" in the UK, although the "Nubira" sedan remains in the rest of the Europe.
{{div col|colwidth=20em}}
*[[Buick Encore GX]] (for export)
*[[Buick Envista]] (for export)
*[[Chevrolet Trailblazer (crossover)|Chevrolet Trailblazer]]
*[[Chevrolet Trax]]
{{div col end}}


=== Current imported models ===
In areas where GM Daewoo has no official distributors, it is possible to buy the same car under several brand names.


== Recent developments ==
==== Cadillac ====
{{div col|colwidth=20em}}
[[Image:2007 Holden EP Epica CDX sedan 01.jpg|thumb|right|The [[Daewoo Tosca|GM Daewoo Tosca]], shown here as the ''Holden Epica'']]
*[[Cadillac CT5|CT5-V Blackwing]]
The '''[[Daewoo Kalos]],''' which was exported globally as the Chevrolet Aveo, was released in September 2005.
*[[Cadillac Escalade]]
*[[Cadillac Lyriq]]
*[[Cadillac XT4]]
*[[Cadillac XT6]]
{{div col end}}


==== Chevrolet ====
The '''[[Daewoo Tosca|GM Daewoo Tosca]]''', the Magnus replacement, appeared in early 2006.
{{div col|colwidth=20em}}
*[[Chevrolet Tahoe#Fifth generation (2021)|Chevrolet Tahoe]]
*[[Chevrolet Traverse#Second generation (2018–present)|Chevrolet Traverse]]
*[[Chevrolet Colorado#Third generation (2023–present)|Chevrolet Colorado]]
{{div col end}}


==== GMC ====
The '''[[Daewoo Winstorm|GM Daewoo Winstorm]]''' [[Sport utility vehicle|SUV]], based on the [[Chevrolet S3X]] concept developed using the [[GM Theta platform]], was released in summer 2006. Two different variants are sold worldwide, including: in South Korea as Daewoo Winstorm, in Europe as the Chevrolet Captiva and Opel/Vauxhall Antara, the USA as the Saturn Vue, and Australia as the Holden Captiva and Captiva Maxx. It features a [[common rail]] [[Diesel engine]] for the first time in a Daewoo vehicle, in addition to regular four and six cylinder [[gasoline]] engines. The diesel engine design is licensed from the Italian engine maker [[VM Motori]].
*[[Chevrolet Silverado|GMC Sierra]]

Developed by a global design and engineering team, '''[[Chevrolet Cruze|GM Daewoo Lacetti Premiere]]''' was introduced in October, 2008.

In August 2009, GM Daewoo released the '''Matiz Creative''', design being based on the '07 [[Chevrolet Beat]] concept.

== Future plans ==
<!--A model based on the [[Chevrolet T2X]], a "sport coupé–SUV" concept car, may join the lineup in 2008.
-->
GM Daewoo will also take responsibility for developing the future version of the [[GM Gamma platform]], currently used by the [[Opel Corsa]] D and the [[Fiat Grande Punto]]. Therefore, it has been speculated that the Chevrolet Corsa C, sold in Latin America since 2002, may be replaced or joined by a slightly modified version of the Corsa D - in the latter case, it might be named Astra (like the [[Chevrolet Vectra]], which is a [[Opel Astra]] C with a different front end), and the Corsa may be followed by a Kalos/Aveo built on the Corsa B's platform with many shared pieces with the [[Chevrolet Celta]].

== Manufacturing facilities ==
'''[[South Korea]]'''
* '''[[Bupyeong-gu]]''' : vehicle assembly and gasoline/LPG engine manufacturing (production capacity: est. 440,000/year)
* '''Gunsan''' : vehicle assembly and diesel engine manufacturing (production capacity: est. 260,000/year)
* '''Changwon''' : vehicle assembly and gasoline/LPG engine manufacturing (production capacity: est. 210,000/year)
* '''Boryeong''' : transmission and engine components manufacturing

'''[[Vietnam]]'''
* '''[[Hanoi]]''' : VIDAMCO (''Vi''etnam ''Da''ewoo ''M''otor ''Co''.) vehicle assembly (production capacity: est. 11,000/year)

== List of Daewoo models ==
=== Passenger cars ===

** '''Daewoo-based models'''
* '''[[Daewoo Espero|Espero - Aranos]]''' (1990–1997)
[[Image:Aveo.jpg|thumb|right|A [[Daewoo Kalos|Chevrolet Aveo]] (GM Daewoo Gentra) in [[Thailand]]]]
* '''[[Daewoo Kalos|Kalos - Gentra/Gentra X T200-T250]]''' (2002–present)
Also marketed as the [[Chevrolet Aveo|Chevrolet Aveo/Kalos/Lova]], [[Holden Barina]], [[Pontiac Wave]]/G3, and the [[Suzuki Swift|Suzuki Swift+]]
* '''[[Daewoo Lacetti|Lacetti J200]]''' (2003–2009)
Also marketed as the [[Suzuki Forenza]], [[Chevrolet Optra|Chevrolet Optra/Lacetti]], [[Holden Viva]] and [[Buick Excelle]]/Excelle HRV
* '''[[Chevrolet Cruze|Lacetti Premiere J300]]''' (2008-present)
Also marketed as the [[Chevrolet Cruze]], [[Chevrolet Cruze|Holden Cruze]]
* '''[[Daewoo Lanos|Lanos T100]]''' (1996–present)
Also marketed as the [[Doninvest Assol]], [[ZAZ Lanos]]/Sens/Chance, [[Fabryka Samochodów Osobowych|FSO Lanos]] and [[Chevrolet Lanos]]
* '''[[Daewoo Leganza|Leganza V100]]''' (1997–2002)
Also marketed as the [[Doninvest Kondor]]
* '''[[Daewoo Magnus|Magnus - Evanda V200]]''' (2000–2006)
Also marketed as the [[Chevrolet Epica|Chevrolet Epica/Evanda]], [[Suzuki Verona]], Formosa Magnus
* '''[[Daewoo Matiz|Matiz M100-M150-M200]]''' (1998–present)
Also marketed as the [[Chevrolet Matiz|Chevrolet Matiz/Spark/Joy/Exclusive]], Formosa Matiz, [[Fabryka Samochodów Osobowych|FSO Matiz]] and [[Pontiac Matiz G2]]
* '''[[Daewoo Matiz|Matiz Creative M300]]''' (2009-present)
Will be marketed as the '''2010 Chevrolet Spark'''
* '''[[Daewoo Nubira|Nubira J100]]''' (1997–2003)
Also marketed as the [[Doninvest Orion]]
* '''[[Daewoo Tacuma|Tacuma - Rezzo]]''' (2000–2008)
Also marketed as the [[Chevrolet Tacuma|Chevrolet Tacuma/Rezzo/Vivant]]
* '''[[Daewoo Tosca|Tosca V250]]''' (2006–present)
Also marketed as the [[Chevrolet Epica]] or [[Holden Epica]]
* '''[[Daewoo Winstorm|Winstorm C100]]''' (2006–present)
Also marketed as the [[Chevrolet Captiva]] and [[Holden Captiva]]
* '''[[Opel Antara|Winstorm MaXX C100]]''' (2008-present)
Also marketed as the [[Opel Antara|Opel/Vauxhall Antara]], [[Holden Captiva MaXX]], [[Saturn Vue]] 2nd generation and UAE [[GMC Terrain]]
** '''[[Holden]]-based models'''
* '''[[Holden WM Statesman|Veritas]]''' (2008–present)
Rebadged [[Holden WM Statesman]]
* '''[[Holden WL Statesman|Statesman]]''' (2005–2006)
Rebadged [[Holden WL Statesman]]
** '''[[Honda]]-based models'''
* '''[[Honda Legend|Arcadia]]''' (1994–2000)
Rebadged [[Honda Legend]] 2nd gen.
** '''[[Opel]]-based models'''
* '''[[Daewoo Cielo|Cielo - Nexia]]''' (1994–1997)
Based on the [[Opel Kadett]] E
* '''[[Daewoo LeMans|LeMans]]''' (1986–1994)
Based on the [[Opel Kadett]] E - Variants : [[Daewoo Racer|Racer]] (3-door hatchback) and [[Daewoo Penta|Penta-5]] (5-door hatchback)
Other names : [[Daewoo 1.5i|1.5i]] (Australia), [[Daewoo Fantasy|Fantasy]] (Thailand), [[Daewoo Pointer|Pointer]], Daewoo Heaven
Exported as : [[Asüna GT]] (Canada 1991–1993 hatchback), [[Asüna SE]] (Canada 1991–1993 sedan), [[Passport Optima]] (Canada 1989–1991) and [[Pontiac LeMans]] (North America)
* '''[[Daewoo Maepsy|Maepsy-Na]]''' (1982–1986)
Based on the [[Opel Kadett]] C
* '''[[Daewoo Prince|Prince]]''' (1991–1997)
Based on [[Opel Rekord]] E, more luxurious variants : [[Daewoo Super Salon|Super Salon]] later renamed [[Daewoo Brougham|Brougham]] (1991–1999)
* '''[[Daewoo Royale|Royale Series]]'''
First generation (1975–1978) based on [[Opel Rekord]] D
Second generation (1980–1991) based on [[Opel Rekord]] E, variants : Automatic, Diesel, Duke, Prince, Salon, Salon Super and XQ
** '''[[Saturn Corporation|Saturn]]-based models'''
* '''[[Daewoo G2X|G2X]]''' (2007–present)
Rebadged [[Saturn Sky]] Red Line [[Image:Saturn-Sky.jpg|thumb|right|The [[Saturn Sky]], on which is based the [[Daewoo G2X|GM Daewoo G2X]] ]]
** '''[[SsangYong Motor Company]]-based models'''
* '''[[Ssangyong Chairman|Chairman]]'''
Rebadged [[SsangYong Chairman]]
* '''[[Ssangyong Istana|Istana]]'''
Rebadged [[SsangYong Istana]]
* '''[[Ssangyong Korando|Korando]]''' (1999–2001)
Rebadged [[SsangYong Korando]]
* '''[[Ssangyong Musso|Musso]]'''
Rebadged [[SsangYong Musso]]
* '''[[Ssangyong Rexton|Rexton]]'''
Rebadged [[Ssangyong Rexton]]
** '''[[Suzuki]]-based models'''
* '''[[Daewoo Damas|Damas - Damas II/Attivo]]''' and pick-up version '''[[Daewoo Damas|Labo]]''' (1991–present)
Rebadged [[Suzuki Carry]] - Also marketed as the [[Daewoo Damas|Chevrolet CMP/CMV]]
* '''[[Daewoo Tico|Tico/Fino]]''' (1991–2001)
Rebadged [[Suzuki Alto]]

=== Commercial vehicles ===
:''Daewoo's commercial vehicle business was acquired by [[Tata Motors]] in 2004. The business is now known as [[Tata Daewoo Commercial Vehicle]]. [[Daewoo Bus]] is not owned by Tata.
* [[Daewoo BM090]] [[Image:KKBus 570FE Front.jpg|thumb|right|A Daewoo BH120 bus in [[Republic of China|Taiwan (ROC)]]]]
* [[Daewoo BS090]]
* [[Daewoo BF101/105]]
* [[Daewoo BS105/106]]
* [[Daewoo BV101]]
* [[Daewoo BV113]]
* [[Daewoo BH113]]
* [[Daewoo BH115]]
* [[Daewoo BH115E]]
* [[Daewoo BH116]]
* [[Daewoo BH117]]
* [[Daewoo BH120(H)]]
* [[Daewoo Chasedae Truck]]
* [[Daewoo Elf|Elf]] (Rebadged [[Isuzu Elf]])
* [[Daewoo Lublin]]

=== Concept cars ===
* Daewoo DEV-4 (1994) - electric vehicle based on the [[Daewoo Cielo]] [[Image:Daewoo Matiz.jpg|thumb|right|2004 [[Daewoo Matiz|GM Daewoo M3X]]]]
* Daewoo No.1 (1995)
* Daewoo No.2 (1995)
* Daewoo Mya (1996)
* Daewoo Tacuma (1997)
* Daewoo Joyster (1997)
* Daewoo Matiz (1997)
* Daewoo DEV-5 (1997)
* Nubira HEV / Leganza NGV (1997)
* Daewoo Shiraz (1997)- all 1997 concepts shown in the 1997 [[Seoul Motor Show]]
* Daewoo Mirae (1999)
* Daewoo DMS-1 (1999)
* [[Daewoo Musiro]] (2000)
* Daewoo Vada (2001)
* [[Daewoo Flex|GM Daewoo Flex/Universe]] (2001)
* [[Daewoo Scope|GM Daewoo Oto/Scope]] (2003)
* [[Daewoo Matiz|GM Daewoo M3X]] (2004) - third generation of Matiz since 2005
* [[Chevrolet S3X|GM Daewoo S3X]] (2004) - GM Daewoo Winstorm since 2006
* [[Chevrolet T2X|GM Daewoo T2X]] (2005)
* [[Chevrolet WTTC Ultra]] (2006) - designed by the GM DAT Design Center
* [[Saturn Sky|GM Daewoo G2X]] (2006) - sold in South Korea since the end of 2007
* [[Chevrolet Trax]] (2007) - designed by the GM DAT Design Center
* [[Chevrolet Beat]] (2007) - designed by the GM DAT Design Center
* [[Chevrolet Groove]] (2007) - designed by the GM DAT Design Center


== See also ==
== See also ==
{{Portal|South Korea|Cars|Companies}}
* [[Daewoo Bus]] (not affiliated with GM Daewoo)
* [[Daewoo Bus]]
* [[Daewoo Motor Sales]]
* [[Daewoo Motor Sales]]
* [[List of Korea-related topics]]
* [[List of Daewoo models]]
* [[List of Korean car makers]]
* [[Automotive industry in South Korea]]

* [[Tata Daewoo Commercial Vehicle]] (not affiliated with GM Daewoo)
== Notes ==
* [[UzDaewooAuto]] (not affiliated with GM Daewoo)
{{notelist}}


== References ==
== References ==
{{reflist}}
{{Reflist}}


== External links ==
== External links ==
{{Commons category}}
;Korea
* {{official website}} {{in lang|ko}}
* [http://www.gmdaewoo.co.kr/ GM Daewoo Homepage]
* [https://chevrolet.co.kr/ Chevrolet Korea] {{in lang|ko}}
* [http://www.gmdaewoo.co.kr/eng01/news/news02_list.jsp GM Daewoo English News Corner]
* [http://buy.dm.co.kr/ GM Daewoo Shopping Mall Homepage]
* [https://cadillac.co.kr/ Cadillac Korea] {{in lang|ko}}
* [http://www.gmautoworld.co.kr/ GM Autoworld Korea Homepage]
* [https://gmckorea.co.kr/ GMC Korea] {{in lang|ko}}
* [https://acdelco.co.kr/gmk/ Acdelco Korea] {{in lang|ko}}
;Worldwide
<!-- Per [[WP:ELMINOFFICIAL]], choose one official website only -->
* [http://www.vidamco.com.vn/ Daewoo Motor Vietnam]
<!--======================== {{No more links}} ============================
* [http://www.daewoo.ro/en/ Daewoo Motor Romania] (not affiliated with GM Daewoo)
| PLEASE BE CAUTIOUS IN ADDING MORE LINKS TO THIS ARTICLE. Wikipedia |

| is not a collection of links nor should it be used for advertising. |
== Related links ==
| |
* [http://wiki.gmnext.com/wiki/index.php/GM_Daewoo Official ''Generations of GM Wiki'' site: GM Daewoo]
| Excessive or inappropriate links WILL BE DELETED. |
== External links ==
| See [[Wikipedia:External links]] & [[Wikipedia:Spam]] for details. |
* [http://daewootech.com/ DaewooTech.com] - Friendly forum (English speaking) for Daewoo owners.
| |
*[http://www.nilemotors.net/Nile/forum35/ Daewoo section in Nilemotors.net - Egypt's largest car forum] (Arabic)
| If there are already plentiful links, please propose additions or |

| replacements on this article's discussion page, or submit your link |
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| to the relevant category at the Open Directory Project (dmoz.org) |
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{{GM Korea}}
{{General Motors}}
{{General Motors}}
{{Navboxes
{{GM Daewoo}}
|titlestyle = background:#ccccff
{{Korean automobile industry}}
|list1=
{{Daewoo Motor Sales}}
{{General Motors}}
{{GM Daewoo timeline}}
{{Daewoo Group}}
{{Automotive industry in South Korea}}
{{SAIC Motor}}
{{KAMA}}
{{KAMA}}
}}
[[Category:Companies established in 1937]]

[[Category:General Motors|Daewoo]]
{{Authority control}}
[[Category:Car manufacturers]]
[[Category:Motor vehicle manufacturers of South Korea]]
[[Category:Truck manufacturers]]


[[ar:دايو]]
[[Category:GM Korea]]
[[Category:Vehicle manufacturing companies established in 2002]]
[[ast:GM Daewoo]]
[[Category:Car manufacturers of South Korea]]
[[az:GM Daewoo]]
[[Category:Truck manufacturers of South Korea]]
[[da:GM Daewoo]]
[[Category:General Motors subsidiaries|South Korea]]
[[de:GM Daewoo]]
[[Category:2002 establishments in Korea]]
[[es:GM Daewoo]]
[[Category:South Korean subsidiaries of foreign companies]]
[[fa:جی‌ام دوو]]
[[fr:GM Daewoo]]
[[ko:GM 대우]]
[[io:GM Daewoo]]
[[id:GM Daewoo]]
[[it:GM Daewoo]]
[[ms:GM Daewoo]]
[[nl:Daewoo (automerk)]]
[[ja:GM大宇]]
[[no:GM Daewoo]]
[[pl:GM Daewoo]]
[[pt:GM Daewoo]]
[[fi:GM Daewoo]]
[[sv:GM Daewoo]]
[[vi:GM Daewoo]]
[[tr:GM Daewoo]]

Latest revision as of 15:03, 2 December 2024

GM Korea Company
Native name
한국지엠주식회사
FormerlyGM Daewoo Auto and Technology Co.
Company typeSubsidiary
IndustryAutomotive
PredecessorDaewoo Motors
Founded2002; 22 years ago (2002)[1]
Headquarters
Bupyeong District, Incheon
,
South Korea
Key people
Hector Villarreal (President and CEO)
Brian McMurray (President of GMTCK)
ProductsAutomobiles, pickup trucks
Production output
Increase 468,059 (2023)[2][a]
RevenueDecrease ₩12.92 trillion (2014)[3]
Number of employees
9,200 (2023)
ParentGeneral Motors
Divisions
Former
Korean name
Hangul
한국지엠
Hanja
韓國지엠
Revised RomanizationHanguk Jiem
McCune–ReischauerHan'guk Chiem
Websitegm-korea.co.kr

GM Korea Company[b] (Korean: 한국지엠주식회사)[c] is the South Korean subsidiary of multinational corporation General Motors and the third largest automobile manufacturer in South Korea. GM Korea's roots go back to the former Daewoo Motors vehicle brand, which was split from its parent company, Daewoo, in 2002.[1] In addition to importing vehicles for sale into South Korea, the company also operates three manufacturing facilities producing vehicles for the domestic market and for export. The company also operates GM Technical Center Korea, a design, engineering, research & development facility for various GM products, primarily small-size cars.

History

[edit]

Predecessors

[edit]
See also: Daewoo Motors

GM Korea's roots go back to the remnants of the Korean War and Shinjin Motors, which launched its business by rebuilding scrapped US military vehicles. Shinjin Motor was first established as National Motor in 1937 in Bupyeong-gu, Incheon, Japanese Korea. After changing its name to Saenara Motor in 1962, Saenara Motor was bought by Shinjin Industrial in 1965, which changed its name to Shinjin Motor after establishing a partnership with Toyota. After Toyota's withdrawal in 1972 (to keep doing business with China, which would not trade with companies who engaged in South Korea or Taiwan), Shinjin Motor changed its name to GM Korea (GMK) in 1972 with General Motors purchasing a 50% stake in the company from Toyota in 1972; however GMK was renamed again in 1976 to Saehan Motors.

Two models by defunct GM Korea (GMK), predecessor of the current company, (left): GMK Rekord Royale (a rebadged Opel Rekord Series D) and 1977 firetrucks bodied by Ha Dong-hwan.

Korea Development Bank (KDB), the company's creditor, took over management in 1976 as the company found itself unable to cope with competition from Hyundai and Kia. After Daewoo gained control in 1982, the name was changed once more to Daewoo Motor. In the early 1990s the company started to expand heavily throughout the world. Until 1996 all Daewoo cars were based on GM-designed models. After the 1997 Asian financial crisis reached South Korea, Daewoo took over the troubled SUV manufacturer SsangYong in 1998, but ran into financial trouble and was forced to sell the company off in 2001 to GM affiliate SAIC.

Formation of GM Daewoo

[edit]

In 2001, General Motors bought most of Daewoo Motor's assets to form "GM Daewoo Auto & Technology". The new company started operations on 17 October 2002, with GM and its partners Suzuki and SAIC holding a stake of 66.7% with investments of US$400 million. The GM holding was purchased by GM's Australian subsidiary, Holden, which held a seat on the board and was legally responsible for GM Daewoo.[5] The remaining equity stake of 33.3% was held by Korea Development Bank and several other Korean creditors with investments of US$197 million. The deal did not include 15 plants, including Daewoo's oldest plant in Bupyeong-gu which is now operated under the name Incheon Motor Company as a supplier to GM Daewoo. In 2004, Tata Motors purchased Daewoo Commercial Vehicle, which had been spun out of bankrupt Daewoo Motor Co. in 2002. In February 2005, GM invested US$49 million to raise its share in the company to 48.2%. In 2010, General Motors owned 82.9%, SAIC 9.9%, and the Daewoo Motor Creditors Committee the remaining 7.2%.[6]

On 25 November 2003, the design center was relocated to the new two-story building at the Bupyeong-gu headquarters. The first car to be produced under the GM Daewoo nameplate was the 2002 Daewoo Lacetti, replacing the Nubira. This car was developed in South Korea under the Daewoo Motor era, but it gradually became a GM world car, sold under many different marques all around the globe. After a few years without any new cars to present, in 2005, GM Daewoo introduced the Holden-based Statesman luxury car replacing the discontinued Daewoo Chairman. The third generation of Matiz was introduced, refreshed by the GM Daewoo design team, and an evolution of the four-door Kalos appeared: the Gentra.

In early 2006, GM Daewoo presented Tosca, the replacement of the Magnus. GM Daewoo's official press releases says that Tosca is an acronym for "Tomorrow Standard Car". The end of the same year, GM Daewoo introduced the Winstorm, its first proper sport utility vehicle (SUV), which was, as the Lacetti, sold worldwide under different brands and names including Opel Antara, Chevrolet Captiva and Holden Captiva, and previously Saturn Vue before the demise of the Saturn brand in 2010. It featured a common rail Diesel engine for the first time in a Daewoo vehicle, in addition to regular four and six cylinder gasoline engines. The diesel engine design was licensed from the Italian engine maker VM Motori.

2007 saw the introduction of the Lacetti and Kalos hatchback facelift's wagon version, becoming the Gentra X. For 2008, GM Daewoo introduced the first Korean-branded roadster: the G2X sports car, a badge-engineered Pontiac Solstice/Saturn Sky which was based on the GM Kappa platform, and started to sell the Opel Antara under the name of Winstorm MaXX. The Statesman flagship was also replaced by the new Veritas which is now based on the Holden Caprice V. In 2008, GM Korea built more than 1.9 million vehicles, including CKD products.

Late 2008 and early 2009 were a major period for GM Daewoo with the introduction of the all-new Lacetti Premiere, which is based on the Chevrolet Cruze, a very important compact car for GM divisions worldwide. The newly rechristened third generation of the Matiz was added to the range in 2009 as the Chevrolet Spark.

2010 saw the introduction of the Chevrolet Orlando and Alpheon, a local version of the Buick LaCrosse.

Establishment of GM Korea

[edit]
Former logo of GM Korea

On 20 January 2011, General Motors announced that GM Daewoo would be renamed GM Korea "to reflect Daewoo's heightened status in the global operations of GM",[7] effective March 2011. Most of the remaining Daewoo vehicles were rebadged as Chevrolets, although the Damas/Labo microtrucks were sold without a brand name since 2011.[8]

GM's luxury division Cadillac entered South Korea in 1996 and, with a record sales year of 28,000 units in 2017, South Korea became the fifth largest market for Cadillac worldwide (after China, the United States, Canada and the Middle East).

In 2011, the Daewoo Tosca was replaced by a locally built version of the Chevrolet Malibu.

More recently, the low annual incomes a result of lower levels of sales, led to closing the non-profitable factories of the GM Korea unit.[9]

GM withdrawal from Europe and crisis

[edit]

Starting from 2014, GM halted sales of all Chevrolet-branded cars in Europe, India, East and South Africa, most of which had up to then been manufactured completely or in part by GM Korea. In 2017, General Motors finalized its move out of the European market by selling the Opel and Vauxhall brands to PSA Group (now part of Stellantis). This caused closure of GM Korea's Gunsan plant due to low productivity. The GM Vietnam vehicle assembly plant in Hanoi, which was managed by GM Korea, was sold to VinFast in 2018.[10]

In 2019, GM Korea split its R&D unit, GM Technical Center Korea (GMTCK), into a separate firm despite protests by unions worried about potential layoffs at factories.[11] General Motors announced on 16 February 2020 that "as part of a strategy to exit markets that don't produce adequate returns on investments" it was exiting from all right-hand drive markets worldwide, including Australia, New Zealand, and Thailand. This coincided with the demise in 2020 of the Holden brand, hitherto a large distributor of GM Korea products.

In April 2022, GM Korea's Bupyeong 2 plant was closed due to reduced productivity.[12] The Spark and Malibu were to be discontinued in the South Korean market by August 2022.[13]

The Bolt EV and Bolt EUV were discontinued in the South Korean market on 1 December 2023.[14][15]

Manufacturing facilities

[edit]
  • Bupyeong-gu: vehicle assembly and gasoline/LPG engine manufacturing (production capacity: est. 440,000/year)
  • Changwon: vehicle assembly and gasoline/LPG engine manufacturing (production capacity: est. 210,000/year)
  • Boryeong: transmission and engine components manufacturing

Former manufacturing facilities

[edit]
South Korea
  • Gunsan: vehicle assembly and diesel engine manufacturing (production capacity: est. 260,000/year). Its plant closed on 31 May 2018. The factory was later acquired by the Chinese electric commercial vehicles company Farizon, which in conjunction with Myoung Shin. The company plans to manufacture CKD-made electric trucks for the South Korean market.[16]
Vietnam

Model range

[edit]

Current locally manufactured models

[edit]

Current imported models

[edit]

Cadillac

[edit]

Chevrolet

[edit]

GMC

[edit]

See also

[edit]

Notes

[edit]
  1. ^ The figure only includes the South Korea-built vehicles.
  2. ^ Formerly GM Daewoo Auto & Technology Co.[4]
  3. ^ Also spelled as 한국GM주식회사, IPA: [haːnɡuk tɕ͈i em dʑuɕikʰøsa]

References

[edit]
  1. ^ a b Sang-Hun, Choe (23 May 2006). "In Daewoo, GM finds gold in overall gloom". The New York Times. ISSN 0362-4331. Retrieved 4 September 2023.
  2. ^ "GM Korea's sales reach record 468,000 units in 2023". Yonhap News Agency. Retrieved 3 January 2024.
  3. ^ Kang, Su-min (11 April 2015). 르노삼성과 한국GM, 지난해 전혀 다른 길 걸었다 [Renault Samsung and GM Korea were in a completely different path last year]. businesspost.co.kr (in Korean). Business Post. Retrieved 25 November 2015.
  4. ^ He-suk, Choi (20 January 2011). "Daewoo cars history as GM Korea switches to Chevrolet". Choi He-suk. Retrieved 4 September 2023.
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  14. ^ "Site Maintenance". www.chevrolet.co.kr. Retrieved 8 February 2024.
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