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Kim Woo-Choong (;19 December 1936 – 9 December 2019) was a South Korean businessman who was the founder and chairman of Daewoo until its collapse in 1999.
Kim graduated from Kyunggi High School, then finished his education with a Bachelor of Economics at Yonsei University in Seoul.
In 1997, Kim was awarded an **Honorary Doctorate in Philosophy** from Chonnam National University. This recognition was awarded in acknowledgement of his contributions to global economic management and industrial development.
By the 1990s, Daewoo ranked second largest in assets and third in revenues. However, due to its poor financial structure; Daewoo plummeted into chaos when the Asian Financial Crisis hit in 1997. It sold off nearly 50 subsidiaries.
By 1999, Daewoo, the second largest conglomerate in South Korea with interests in about 100 countries, went bankrupt, with debts of about US$50 billion at the time. Kim fled to Vietnam, and was charged with accounting fraud worth 41 trillion won (US$43.4 billion), illegally borrowing 9.8 trillion won (US$10.3 billion), and money laundering US$3.2 billion out of the country while in exile. He was wanted by Interpol for his irresponsible spending as chairman of Daewoo.
Kim was arrested soon after he returned to South Korea on 14 June 2005, and apologized "for hurting the nation" and accepted full responsibility for the collapse of the group, adding that he was "ready to accept whatever the authorities have in store for him," according to The Chosun Ilbo.
Citing health concerns, his sentence was reduced to 8 1/2 years; on 30 December 2007, he was pardoned by President Roh Moo-hyun. South Korean presidents traditionally hand out pardons for the new year.
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