Established in 1971, it has since grown into a global business with more than 64 production sites, research and development and sales centres in more than 40 countries worldwide.

[8] In November 2010, Iranian company Entekhab Industrial Group offered to buy Daewoo Electronics from its creditors for $US529 million.

[11] Entekhab's offer was accepted, and it paid 57 billion won ($US49.67m) as a deposit,[12] but in June 2011, creditors of Daewoo, led by state-run Korea Asset Management Corp (KAMCO), cancelled the contract and retained the deposit[13] after Entekhab missed a scheduled payment and asked for a discount.

Entekhab said they viewed the cancellation of the deal as illegal, and said it would take legal action to stop the sale of the company to Electrolux.

[16] As a result of the ruling, the South Korean government must pay $62.9 million (73.0 billion won) to Dayyani and the other plaintiffs.