‘Diversification is the key to success’ this is what South Korean giant Daewoo has taken too seriously. Founded on March 22, 1967 the Korean conglomerate makes cars (merged with GM now), consumer electronics, ships, oil tankers, heavy duty machinery, etc. It traded in securities and even developed luxurious hotels. This is the same case with giants like LG, Samsung, Kawasaki, Mitsubishi etc, however Daewoo is a step ahead of its counterparts and also makes assault rifles. The Daewoo K1 assault rifle is a standard issue in the South Korean armed forces and was designed as an improved variation of the M16 rifle.
While retaining most of the M16 design features, Daewoo designers replaced the direct gas system of the AR-15/M16 rifle with the more common and reliable gas piston system, and made several other improvements, resulting in very good combat weapon.