GM Korea Co., the South Korean unit of U.S. automaker General Motors Co., will officially launch the Chevrolet brand in South Korea this week, saying goodbye to Daewoo, a name that has endured in South Korea for the past 28 years, the company said Monday.

The name of the company will officially be changed to GM Korea from GM Daewoo also from Tuesday, it added.

"The change of the company name is an evolution from a company that does export sales and also domestic sales. We are a global company that works in Korea. This is a revolutionary pivot for us and an imperative decision," GM Korea president and CEO Mike Arcamone had said, introducing the new company name and the Chevrolet brand for the first time in January.

GM Korea has already introduced three Chevrolet vehicles in South Korea -- the multi-purpose vehicle Orlando, small passenger car Aveo and Chevrolet's iconic sports car the Camaro -- with their deliveries scheduled to begin late next month.

The company plans to introduce an additional five Chevrolet vehicles here this year under what Arcamone has called an "unprecedentedly aggressive launch program" designed to boost the company's domestic sales.

"This is a good change. It is in the best interest of customers, our company, its employees, shareholders, dealers, suppliers and indeed the people of Korea," he had said.

All new makeovers of former GM Daewoo cars will also come with the Chevrolet brand.