Daewoo or the Daewoo Group was a major South Korean chaebol and car manufacturer. It was founded on 22 March 1967 as Daewoo Industrial and was declared bankrupt on 1 November 1999, with debts of about US$50 billion. Prior to the 1997 Asian financial crisis, Daewoo was the second largest conglomerate in South Korea after the Hyundai Group. There were about 20 divisions under the Daewoo Group, some of which survived as independent companies. There were about 20 divisions in the Daewoo Group. Daewoo Group had under its umbrella several major corporations: Daewoo Electronics, a strong force both internationally and in South Korea Daewoo Electronic Components manufactures and sells a variety of electronic parts and components for automobile, monitors, VHS Players and other multimedia products. Daewoo Motors, the motor vehicles division Daewoo Motor Sales, an auto sales company sold Daewoo but GM cars and others in South Korea Daewoo Bus, is a manufacturer of buses. Headquartered in Busan, South Korea, established in 2002.
These buses are used for public transportation Daewoo Precision Industries produced small calibre firearms and auto parts. It was spun off in February 2002 and relisted on the South Korean stock-market in March 2002, it was renamed S&T Daewoo Co. Ltd in September 2006, S&T Motiv Co. LTD in March 2012. Daewoo Textile Co. Ltd. Daewoo Heavy Industries, which created heavy duty machinery Daewoo Shipbuilding & Marine Engineering produced container ships, oil tankers and planes, it spun off in 2000 and became an independent company, DSME, re-listing on the South Korean stock-market in 2001 Daewoo Securities, a financial securities company Daewoo Telecom Ltd. which concentrated on the telecommunications Daewoo Corporation, which built highways and skyscrapers in the Middle East and Africa Daewoo International, a trading organization Daewoo Development Co. Ltd. managing Daewoo hotels around the world and had the Millennium Seoul Hilton franchise in South Korea IAE: research and development integrated centerA further subsidiary was the Daewoo Development Company, funded by cash from the Group and set up to develop hotels.
Seven were built in South Korea, China and Africa. They were designed and furnished by Kim Woo-jung's socialite wife Heeja, chairwoman of the company; the most lavish is the 5-star Hanoi Daewoo Hotel, which cost US$163 million to build in 1996 and was decorated by Heeja with fine art, porcelain and marble. She invited 3,000 guests including Russian President Vladimir Putin. Kim is believed to have spent time there while "on the run". Daewoo Motor Co. Ltd. was founded when the Daewoo Group purchased Saehan Motor in 1978, but the Daewoo Motor name did not appear until 1983. The Daewoo Motor brand appeared in the UK in 1995. At the time, it was the only manufacturer not using traditional dealerships – it owned and operated its own retail network, it was once considered to be among the top 10 motor companies in terms of production. Due to financial trouble, Daewoo's automotive arm, Daewoo Motor, was sold to General Motors in 2001; the Daewoo nameplate continued in South Korea and Vietnam until 2011.
The former Daewoo facilities are now producing General Motors vehicles for Asian markets. Daewoo Commercial Vehicles Division was sold to Tata Motors; the Daewoo Group was founded by Kim Woo-jung in March 1967. He was the son of the Provincial Governor of Daegu, he graduated from the Kyonggi High School finished with an Economics Degree at Yonsei University in Seoul. During the 1960s, after the end of the Syngman Rhee government, the new government of Park Chung Hee intervened to promote growth and development in the country, it increased access to resources, promoted exports, financed industrialization, provided protection from competition to the chaebol in exchange for a company's political support. In the beginning, the Korean government instigated a series of five-year plans under which the chaebol were required to achieve a number of basic objectives. Daewoo did not become a major player until the second five-year plan. Daewoo benefited from government-sponsored cheap loans based on potential export profits.
The company concentrated on labor-intensive clothing and textile industries that provided high profit margins because of South Korea's large and inexpensive workforce. The third and fourth of the five-year plans occurred from 1973 to 1981. During this period, the country's labor force was in high demand. Competition from other countries began eroding South Korea's competitive edge; the government responded to this change by concentrating its efforts on mechanical and electrical engineering, petrochemicals and military initiatives. At the end of this period, the government forced Daewoo into shipbuilding. Kim was reluctant to enter this industry, but Daewoo soon earned a reputation for producing competitively priced ships and oil rigs. During the next decade, the Korean government became more liberal in its economic policies. Small private companies were encouraged, protectionist import restrictions were loosened, the government reduced positive discrimi
William "Bill" James Cross was a British soldier who saw action in Palestine, in Normandy shortly after D-Day. In 2015, he was awarded the Légion d’honneur. Cross was born at Scunthorpe on 21 November 1917, the son of soldier from the Coldstream Guards who served in the First World War, he followed in his father's footsteps, enlisting in the British Army in September 1934 as a Band Boy with the Royal Scots Greys. He earned the George V Jubilee and George VI Coronation Medals, being present on both occasions as a mounted musician. Under the British Mandate in Palestine, Cross served with the Arab Legion under the famous commander Glubb Pasha in 1938. Cross was captured during fighting in Syria, controlled by Vichy France. During the battle he was taken prisoner by the French Foreign Legion. After six weeks as a prisoner of war Cross was evacuated to Egypt, it was while in Egypt. After treatment at the 106 General Hospital on the Suez Canal Zone, he regained sight in one eye; this enabled him to get back to his regiment and advance with the 7th Armoured Division at the Battle of El Alamein.
Following his service in Africa, Cross landed with allied forces in Italy at Salerno. He was withdrawn to the UK in readiness for the D-Day Landings. On 28 June 1944, Cross landed on Sword Beach with 22 Armoured Brigade. In January 1945 Cross transferred to the Life Guards, where he became a corporal of horse and finished his war service at Wismar on the shores of the Baltic Sea. In his capacity as a military musician Cross earned a third Coronation Medal with the ascent of Queen Elizabeth II to the throne, he followed this with her Jubilee Medal and two foreign awards. He earned their service and good conduct medals. Cross retired from the army in 1977 after 43 years’ service. After retiring from the army, Cross worked as a hospital porter. In 1999 he joined the Royal Hospital Chelsea; as a Chelsea Pensioner still he played in the band there as well as joining the bowls team. In 2015 he was one of 19 Chelsea Pensioners presented with the Légion d’honneur by the French Ambassador to the United Kingdom, Madame Sylvie Bermann.
Cross died on 29 June 2015, he was survived by his son Malcolm. Bill Cross talking about his military career
Ivan Slavkov was a Bulgarian sports boss linked to the Communist-era nomenklatura. He served as the President of the Bulgarian Olympic Committee between 1982 and 2005 and was a member of the International Olympic Committee between 1987 and 2005. During the Communist regime in Bulgaria, Slavkov married Lyudmila Zhivkova, daughter of Bulgaria's Communist leader Todor Zhivkov. Despite his unclear qualifications, he was appointed head of the state-controlled Bulgarian Television in 1972. In 1982 Slavkov left Bulgarian television and became the President of the Bulgarian Olympic Committee. After the collapse of Communism in Bulgaria, Slavkov was accused, but subsequently acquitted of several crimes including gross embezzlement of public funds from Sofia's unsuccessful bid for the 1994 Winter Olympics. In 2000 Slavkov was investigated by the IOC after it was alleged he offered support to a businessman who went on to try and solicit bribes from Cape Town when they were bidding to stage the 2004 Games.
According to Chris Ball, who led the Cape Town bid, the businessman had a letter signed by Slavkov in his capacity as President of the Bulgarian NOC and this man went on to suggest that he could deliver IOC votes in return for money. Cape Town refused to pay bribes and reported the incident to the IOC. In 2000 the IOC Ethics Commission decided "after an exhaustive examination of the facts and elements, not to pursue the examination of the Slavkov affair." In 2004 undercover reporters from BBC's programme Panorama secretly filmed Slavkov in a meeting during which he and an associate, Goran Takač, suggested that Slavkov is willing to vote for London's 2012 Olympic bid and solicit votes from other IOC members in exchange for bribes. The programme was broadcast on BBC on 4 August 2004; the IOC Ethics Commission recommended that Ivan Slavkov is provisionally deprived "of all the rights and functions deriving from his membership of the IOC" throughout their investigation and that the accreditations of Goran Takač, Gabor Komyathy, Mahmood El Farnawani and Muttaleb Ahmad are withdrawn for the duration of the Olympic Games in Athens.
The IOC Ethics Commission produced a full report on the incident on October 25, 2004, in which it concluded that Mr Slavkov's actions were "contrary to the ethical principles derived from the Olympic Charter and the IOC code of ethics and of an serious nature", recommended his expulsion from IOC. On Thursday 7 July 2005 at the IOC session in Singapore Slavkov was charged with bringing the IOC into disrepute. 82 members voted in favour of expelling him, with only 12 voting against despite Slavkov making a 20-minute plea to the committee. Slavkov was barred from being chairman of the Bulgarian national Olympic committee, a post he held after being suspended from the IOC. After public outcry in Bulgaria, Slavkov was replaced as President of the Bulgarian Olympic Committee by retired Bulgarian olympic high jumper Stefka Kostadinova, as President of the Bulgarian Football Union by Borislav Mikhailov, the former captain of the Bulgaria national football team. In 2001 he established a political party named Forward Bulgaria which failed to clear the 4% barrier in order to enter Parliament.
On 1 May 2011 Slavkov died in a government hospital following lung complications. He was 70. Bulgarian Olympic Committee Bulgarian Football union Panorama: Buying The Games