Why Gm And Daewoo Wound Up On The Road To Nowhere

At the time, it was the sort of manufacturing tie-up that international business theorists love. General Motors Corp. and South Korea's Daewoo Group in 1986 launched a joint venture to build a car in Korea for sale in the U. S., based on a design by GM's Adam Opel unit in Germany. "In a very real sense, this vehicle is a product of the best that Germany, Korea, and the U. S have to offer," said Roger B. Smith, GM's then-chairman, in Seoul in September, 1986.

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