SCHOLARSHIP APPLICATION: (Deadline: APRIL 30th, 2026)
Please ensure all fields are filled in completely.To view previous winner: Click Here
(IF YOU HAVE ANY QUESTIONS, PLEASE EMAIL THE PROGRAM ADMINISTRATOR AT RYAN@STUDENTSCHOLARSHIPS.ORG)
Daewoo Forklift Part
Daewoo Forklift Parts - Kim Woo-Jung, the son of Daegu's Provincial Governor, founded the Daewoo group in March of the year 1967. He first graduated from the Kyonggi High School and next studied at Yonsei University in Seoul where he finished with an Economics Degree. Daewoo became one of the Big Four chaebol in South Korea. Growing into a multi-faceted service conglomerate and an industrial empire, the company was prominent in expanding its worldwide market securing various joint projects worldwide.
In the 1960's, park Chung Hee's government began to support the growth and development 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. Initially, the Korean government initiated a series of 5 year plans under which the chaebol were needed to achieve a series of certain basic objectives.
When the second 5 year plan was applied, Daewoo became a major player. The business really benefited from government-sponsored cheap loans which were based on possible proceeds earned from exports. Firstly, the company concentrated on labor intensive clothing industries and textile that provided high profit margins. South Korea's huge labor force was the most important resource in this plan.
The time period between 1973 and 1981 was when the third and fourth 5 year plans occurred for the Daewoo Company. During this era, the country's workforce was in high demand. Korea's competitive edge started eroding as competition from other nations began to happen. In response to this change, the government responded by focusing its effort on mechanical and electrical engineering, construction efforts, petrochemicals, military initiatives and shipbuilding.
In the end, Daewoo was forced into shipbuilding by the government. Even though Kim was hesitant to enter the industry, Daewoo rapidly earned a reputation for producing competitively priced ships and oil rigs.
All through the next decade, Korea's government became more open-minded in economic policies. As the government loosened protectionist import restrictions, reduced positive discrimination and encouraged small, private companies, they were able to force the chaebol to be much more assertive overseas, while encouraging the free market trade. Daewoo successfully established many joint projects with American and European businesses. They expanded exports, semiconductor design and manufacturing, machine tools, aerospace interests, and various defense products under the S&T Daewoo Business.
Eventually, Daewoo started building civilian helicopters and airplanes that were priced much less expensive as opposed to those produced by its counterparts in the U.S. The company expanded their efforts in the automotive trade. Remarkably, they became the 6th biggest automobile manufacturer on the globe. Throughout this particular time, Daewoo was able to have great success with reversing faltering businesses in Korea.
In the 80s and 90s, Daewoo moved into other sectors including telecommunication products, computers, consumer electronics, buildings and musical instruments like for example the Daewoo Piano.
Click to Download the pdf
Forklift Parts
Lift Parts Express
TOLL FREE: 1-888-695-7994
Williston, North Dakota
forkliftpartswilliston.com
Email Us
About Us