Claim: Saehan Motors was an automotive company in Seoul, South Korea founded in 1976 but was bought out by Daewoo Motors (established in 1937 as "National Motors) in 1982.
Evidence: This joint-venture, 50-50 between GM and Shinjin, consisted on a car assembly plant in Bupyong, a truck assembly plant in Pusan and a foundry at Inchon. In November 1976, Shinjin Motors faced financial problems and sold its 50% stake in Saehan to the Korea Development Bank (KDB). In 1978, the Daewoo Group acquired the equity stake and management rights from KDB.