LYCOS RETRIEVER 
Daewoo: Daewoo Corporation
built 289 days ago
Since its foundation in 1967 as a small textile trading company, Daewoo has grown into one of Korea's largest business groups. Total sales in 1989 were US$ 2O Billion, including exports of about US$ 4.8 Billion. Last year, Daewoo ranked 3Oth in Fortune magazine's "International 5OO" listing of the largest industrial corporations outside the USA.
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The government must end the negotiations with the Daewoo Corporation immediately, and not take any actions harmful to the interests of State Oil, its employees, and the entire nation. This is written in a petition presented to Assembly Speaker Indra Djwalapersad on Thursday by workers of the oil company. In the petition, which was presented by around 300 State Oil employees, the government is ... reminded the Tambaredjo fields can never be the subject of negotiations. During a meeting held on September 24, the workers decided to present this petition to the Assembly Speaker, and submit it for debate during the Assembly meeting held on Thursday. The petition points out that State Oil has been awarded exclusive rights indefinitely to the exploration and mining of hydrocarbons on May 11, 1981, on the basis of Decree E-8B. The concession areas are both on- and offshore.
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There were about 20 divisions under Daewoo Group, which before the crisis was the second largest conglomerate in Korea after Hyundai, followed by LG and Samsung. Daewoo Group had under its umbrella several major corporations:
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