The founder of collapsed Daewoo Group, Kim Woo-choong, has died at the age of 83.

The businessman built the conglomerate into an industrial giant into the 1990s, but it was crushed by $75bn of debt and became one of South Korea's biggest corporate failures.

Kim died on Monday after suffering chronic illness.

Daewoo was once the country's second-largest company, but its failure eventually led to a jail term for Kim and the nationalisation of shipbuilder DSME, its biggest asset, leading to subsequent multi-billion state bail-outs.