(January 20, 2011) SEOUL — In a move designed to enhance its presence in Korea and to bolster its domestic sales operations, GM Daewoo Auto & Technology Co. (GM Daewoo) announced today that it is replacing the current GM Daewoo nameplate with the world’s fastest-growing automotive brand, Chevrolet.

All of the company’s new product introductions and refreshes this year will be under the Chevrolet badge. Additionally, GM Daewoo announced that it will be changing its company name to GM Korea Co., which is globally consistent with all other GM country operations. The company name change is expected to be completed by the end of the first quarter.

“This important new brand strategy is designed to strengthen our commitment to the Korean market, recognizing it as one of the strongest-performing countries within GM’s global operations. We are well positioned to bring one of the world’s iconic brands to Korea,” said Mike Arcamone, President and CEO of GM Daewoo.  “We cannot afford to sit still, and instead, choose to make a bold move with the launch of Chevrolet in Korea.”

GM’s market research overwhelmingly points to consumer acceptance of the Chevrolet brand in Korea. “This new growth opportunity will allow us to compete in brand new segments and offer our customers more choices than ever before, resulting in a strong future for our company, our employees and our sales agents,” said Arcamone.

This year, the company will begin its most aggressive vehicle launch plan in its history and will have an all-new product lineup with the introduction of eight new models carrying the Chevrolet name. The portfolio includes the Chevrolet Camaro, Chevrolet Orlando, the Chevrolet Aveo global small car, as well as a new SUV and a new premium midsize sedan.

 “Not only are we giving Korean consumers more vehicle choices than ever before, but in order to ensure Chevrolet’s long-term success in the domestic market, we are totally redesigning our dealerships, A/S networks and sales networks so that customers will be able to enjoy Chevrolet’s award-winning dealership experience and service,” said Arcamone. “Our main goal is to achieve the highest levels of customer satisfaction and loyalty.”