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Chang keeps Daewoo’s brand alive

Published: 20 Nov. 2009, 20:09

Chang Byung-ju

Chang Byung-ju, former president of Daewoo Corp., is busy nowadays. He has recently opened Daewoosky Institute last month. The institute located near Seoul Station has already drawn 1,500 former Daewoo Group employees.

Through the institute Chang hopes to keep the Daewoo name alive in the Korean business society.

“General Electric, which represents the U.S., and Toyota, which represents Japan, despite having their owners change, their brand continues to live on,” Chang said. “Like these companies, the Daewoo brand needs to stay alive.”

Chang said the name Daewoo still has strong influence in Eastern Europe and emerging countries that could help businesses there.

The institute comprises former Daewoo employees who have worked for the company for more than five years. Among the members the most are in their 40s and there are over 300 members living overseas.

“I always thought it was necessary to establish a network among former Daewoo employees in various fields [since Daewoo Group was split],” Chang said.

“The members will not only socialize but also aggressively participate in the Ministry of Knowledge Economy’s project of sending experts overseas,” Chang added.

Although before the institute there were social gatherings of some 500 former high-level officials of Daewoo Group, the number has dropped to 150 due to retirement and death.

“Daewoo Group has already paid its legal dues and undergone self-reflection on the illegal fund establishment,” Chang said.

“From now own Daewoo Group’s mentality of global management and ‘can-do’ attitude will contribute to the Korean economy. “

By Kim Tae-jin [[email protected]]