Factories built under the Communist regime in the city have performed poorly in the new market economy. The large car factory FSC (Fabryka Samochodów Ciężarowych) seemed to have a brighter future when acquired by the South Korean Daewoo conglomerate in the early 1990s. With Daewoo's financial troubles in 1998 related to the Asian financial crisis, the production at FSC practically collapsed and the factory entered bankruptcy. Efforts to restart its van production succeeded when the engine supplier bought the company to keep its prime market. With the decline of Lublin as a regional industrial centre, the city's economy is being reoriented toward the service industries. Currently, the largest employer is the Maria Curie-Sklodowska University (UMCS)
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