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Problem Definition Daewoo group started as a small textile company and in just 20 years developed into second largest Korean chaebol family owned conglomerate It had over 250000 employers worldwide over 30 domestic companies and 300 overseas subsidiaries generating sales of more than 100 billion dollars annually However in 1999 it seemed that the golden days of Daewoo were over as it was faced with over 50 billion dollars dept and had to decide to sell some of its business to carry on Can Daewoo really survive and if yes how The roots of Daewoos crisis are in a Korean Economic Systems Structure Chaebols and Asian Crisis b Daewoo corporate structure Kim Woo-Choong and his policies The main problem is that Korean economic system is ready for change and already changing so does the government and its policies However the chaebols such as Daewoo are living in the past and find it difficult to adapt to changes The question is whether there is any place in a changing Korea for chaebols at all or they will be soon replaced by smaller but more efficient companies
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