He graduated from the prestigious Kyunggi High School, then finished his education with an Economics Degree at Yonsei University in Seoul.
[citation needed] Kim rapidly expanded the renamed Daewoo Group by using borrowed money to purchase near-bankrupt companies.
Daewoo had the most overseas branch offices among all the major Korean chaebols, a sign of the company's rapid growth.
[4] Citing health concerns, his sentence was reduced to 8 1/2 years; on 30 December 2007, he was pardoned by President Roh Moo-hyun.
[5] On 9 December 2019, Kim died due to pneumonia at Ajou University Hospital in Suwon, 10 days before his 83rd birthday.