Long the second-largest business conglomerate in Korea after Hyundai, the Daewoo Group was broken up into separate companies in the wake of widespread industrial restructuring in Korea during 1999. Daewoo has long been GM's partner in the Korean market, and GM purchased Daewoo Motor Ltd in 2001, creating a company now known as GM Daewoo.
For a time, Daewoo attempted to sell its vehicles under its own badge in the American, European and Southeast Asian markets beginning in late 1995, but a poor reputation for quality forced the withdrawal of the brand from those markets by the time of the sale of Daewoo Motor to GM. In the U.S., Daewoo sold its Nubira, Lanos and Leganza automobiles.
Now GM Daewoo builds assorted small cars for various GM divisions, notably Chevrolet and Suzuki in the U.S. Daewoo has also become GM's outpost on the doorstep of China, the home of one of the most important styling studios in GM's worldwide system.