Y'know I've never thought to find out that Waz. I just had a google and wikipedia suggests they were manufactured by the Samick factory in Korea from 1991, although the wording suggests they had already begun using Korea to produce prior to that, so it seems likely. These are classed as a budget or entry level guitar, so that would make sense for them to test the manufacturing waters with a budget line.
I'm biased obviously, but I always though it was a nice guitar. The black finish was like a mirror when I got it. The first chip I put it in nearly made me throw up. But like cars are supposed to be driven, guitars are meant to be played and enjoyed, so these days I see the wear and tear as a badge of honour.