The Daewoo Group was founded by Kim Woo-jung in March 1967. He was the son of the Provincial Governor of Daegu Prefecture. He graduated from the Kyonggi High School, then finished with an Economics Degree at Yonsei University in Seoul. An industrial and multi-faceted service conglomerate, Daewoo was prominent in expanding its global market through joint ventures all over the world. In the 1980s and early 1990s, the Daewoo Group also produced consumer electronics, computers, telecommunication products, construction equipment, buildings, and musical instruments.