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Biz News Korea(Eng)
S. Korea’s SM entertainment unit enlarged with ad function
- Collected
- 2017.10.25
- Distributed
- 2017.10.26
- Source
- Go Direct
With the addition of the new ad business, SM C&C will optimize management for advertising business to solidify its position as Korea’s leading advertising agency, the company said in a press release.
The former advertising unit of SK Planet, a subsidiary of the country’s largest mobile carrier SK Telecom, was one of top five in the Korean advertising market by sales. It has made advertising campaigns for SK Group, Dong-A Pharmaceutical Co.’s signature energy drink Bacchus, online-only bank Kakao Bank and Yuhan-Kimberly.
In July, S.M. Entertainment announced that it would acquire SK Planet’s advertising unit at 66 billion won ($58 million) and add it as its subsidiary.
The relaunched SM C&C with the ad business will continue to enhance its data-driven marketing solutions under a strategic partnership with SK Planet, the company said.
SM C&C expected the new ad business that has accumulated advertising know-how for years under SK Planet would create great synergy with the entertainment mogul’s cultural contents, said SM C&C CEO Lee Jun-sik.
By Kang Young-woon and Lee Ha-yeon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]