Daewoo founder passes away

Kim Woo-Choong, the founder of the Daewoo group, has died of pneumonia aged 82 after a long fight against chronic ailments. Kim was born in 1936 in the city Daegu, in what was then a colony of imperial Japan. Kim's father was reportedly a teacher and mentor to future president and military strongman Park Chung-hee, and later a provincial governor.