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Dongbu Daewoo Elec to go as Daewoo Elec at home Winia Daewoo in overseas

Collected: 2018.02.20

Distributed: 2018.02.21

Source: Go Direct

Dongbu Daewoo Electronics, a distant third in the South Korean home appliance industry and relatively well known white-goods name in emerging markets, will return to its founding name Daewoo Electronics after it goes under a new owner Dayou Group.

The company will formerly divorce from Dongbu Group and become a Dayou family after the group completes acquisition process by paying out an estimated 120 billion won ($112 million) for 84.8 percent stake.

Dayou Group said it will separately run its two appliance brands - Daewoo Electronics and Dayou Winia. It was largely expected that the two will merge. Winia is a smaller appliance maker known for the first kimchi refrigerator Dimchae.

In overseas, the group will integrate the brands to one “Winia Daewoo.” Dayou would have to pay Posco Daewoo which has the trademark right in the name of Daewoo.

Daewoo Electronics had been a formidable home appliance maker after Samsung and LG until the parent group went bankrupt. It has factories in foreign countries including France, Myanmar, Poland, Malaysia and India and maintains downmarket appeal in emerging markets.

By Lee Jae-cheol and Lee Ha-yeon

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