Saehan

Saehan was a South Korean automobile manufacturer founded in 1976 from the collaboration of Shinjin Industrial Company and General Motors, to introduce their products on the South Korean market. It grew out of the former General Motors Korea, which ran into difficulties when the South Korean market collapsed after the first round of oil price rises in 1973. The 50-50 joint venture between GM and Shinjin consisted of a car assembly plant in Bupyong, a truck assembly plant in Pusan and a foundry at Incheon. In November 1976 Shinjin sold its stake to the Korea Development Bank, the Daewoo Group acquired it in 1978, and the company was renamed Daewoo Motor in January 1983.