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2018 Skyjack SJ1056 Image
Stock Number: EQC012374
Make: Skyjack
Model: SJ1056
Year: 2018
2018 Skyjack SJ1056 Details
2015 Terex CTT 121A-5 TS16 Image
Stock Number: 600017
Make: Terex
Model: CTT 121A-5 TS16
Year: 2015
2015 Terex CTT 121A-5 TS16 Details
2007 Potain HDT80 Image
Stock Number: 600194
Make: Potain
Model: HDT80
Year: 2007
2007 Potain HDT80 Details
2013 Hyundai 110D-7E Image
Stock Number: EQU010604
Make: Hyundai
Model: 110D-7E
Year: 2013
2013 Hyundai 110D-7E Details
2012 Miller Big Blue 400D Image
Stock Number: 231276
Make: Miller
Model: Big Blue 400D
Year: 2012
2012 Miller Big Blue 400D Details
2008 Combilift C12000SL Image
Stock Number: EQU008108
Make: Combilift
Model: C12000SL
Year: 2008
2008 Combilift C12000SL Details
Daewoo Large Capacity Forklift

Daewoo Large Capacity Forklift

Early History
The South Korean government in the early 1960s began a new economic strategy which required large companies called "chaebols" to focus on producing exports. This new strategy called for a series of five year plans that were intended to lessen the trade deficit the nation was going through while helping to bolster the nation's production. This was a plan that had already been successfully used by Hong Kong and Taiwan, the Far East competitors of South Korea. The company Daewoo had a significant part in this effort to improve the importance of South Korea's exports.

The government of South Korea sponsored cheap loans for chaebols manufacturing goods for export. Daewoo benefited from the loans when it began trading during 1967. This was at the beginning of the second five-year plan. Daewoo took advantage of the nation's large workforce, its primary asset. By focusing on labour-intensive businesses, such as clothing and textile, the company yielded high profits. The company's factory within Pusan made 3.6 million shirts on a monthly basis. The corporation also manufactured basic manufacturing machines, that were also labour intensive. In this time, Daewoo helped to increase South Korea's level of exports, that were growing nearly 40 percent per year.

Korea's comparative advantage in labor-intensive production started to decline, once the demand for labour pushed the wages upwards. Malaysia and Thailand became market competitors to South Korea, which forced the country to focus on the industries of shipbuilding, petrochemicals, electrical and mechanical engineering, and construction. This specific phase of the nation's economic recovery lasted from 1973 to 1981. This happened at the same time as the United States announced its plans to totally withdraw its peacekeeping forces from the country. The new emphasis in manufacturing was meant to further the expansion of Korea's exports while simultaneously manufacturing parts which had to be imported previously. Domestic components production helped to make possible a national defense industry and strengthen domestic industries.

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