Why did the Daewoo Group go out of business?
The Daewoo group failed in 1998 due in large part to the 1997 Asian financial crisis. Doosan CNC entered the US market in 1996. As a Korean manufacturer, they had to fight the perception of being low-end. So, they invested heavily in R&D to compete with Haas and Mazak, among others.
DA: 10 PA: 39 MOZ Rank: 30