POSCO INTERNATIONAL's 'Daewoo' brand generates over 10 billion won in revenue annually in the global market. Although the Daewoo Group has dismantled, the Daewoo brand continues to make its presence felt abroad.
According to POSCO INTERNATIONAL on the 5th, as of the end of last year, 3,350 registrations of the Daewoo trademark exist across 175 countries, mainly for electronics and automotive parts. The Daewoo trademark is held by POSCO INTERNATIONAL. A POSCO INTERNATIONAL official noted, "Daewoo remains popular in the Middle East and Latin America. The Daewoo brand is becoming a source of royalty revenue."
The trademark revenue earned by POSCO INTERNATIONAL last year, both domestically and internationally, is about 14 billion won. This represents a 38% increase from 2023 (10.1 billion won) and is expected to reach about 14.1 billion won this year.
Daewoo began when the late Kim Woo-joong founded Daewoo Industrial in 1967. Daewoo became known for producing the Tico, a symbol of compact cars, and promoted its sturdy home appliances under the slogan 'tank principle.' Just before the foreign exchange crisis in 1998, Daewoo had grown to become the second largest in the business sector after Hyundai. At that time, there were 41 affiliates, and its overseas subsidiaries and branches totaled over 600. In 1998, Daewoo's exports amounted to $18.6 billion, accounting for about 14% of Korea's total exports ($132.3 billion).
The Daewoo Group announced a restructuring plan in 1998, but it ended in failure, and by 1999, it applied for workout status, leading to its dismantlement after 32 years of operation.
When the Daewoo Group was dismantled, the Daewoo trademark was inherited by Daewoo International, which was spun off from Daewoo's trading division. POSCO acquired Daewoo International in 2010 and renamed it POSCO Daewoo, along with taking over the trademark. POSCO Daewoo changed its name to POSCO INTERNATIONAL in 2019.
The Daewoo trademark is known to be used by Turkish appliance manufacturer Vestel, Chinese appliance maker Midea, among others. These companies sell refrigerators and washing machines under the Daewoo brand and pay commissions to POSCO INTERNATIONAL.