Daewoo Motor

Daewoo Motor's 2000 bankruptcy collapsed South Korea's second-largest automaker after the Asian financial crisis exposed unsustainable expansion. The company had expanded globally while losing money on every car. GM acquired Daewoo's Korean operations in 2001, creating GM Korea. Daewoo demonstrated that aggressive international expansion funded by debt creates fragility during currency and financial crises. The brand survives only in some emerging markets.