WPP strengthens Korean presence with Diamond Ogilvy tie-up
LONDON - WPP Group is to open a joint office between its South Korean ad agency Diamond Ad and international network Ogilvy & Mather, in an attempt to make inroads in to the local market.
South Korea is the eighth largest advertising market in the world, but one that the international ad holding companies have struggled to crack with their existing brands.
WPP said it was the first time a Korean agency had fully joined with an international ad network. Known as the Diamond Ogilvy Group, it will bring together Diamond Ad and four companies of Ogilvy & Mather: O&M Advertising; OgilvyOne; and Ogilvy PR; as well as a new start-up office of Ogilvy Healthworld. The group will be headed by Miles Young, chairman of Ogilvy & Mather Asia Pacific, and will share back-office functions.
Diamond Ad is to be renamed Diamond Ogilvy, and will operate separately from O&M Advertising, working on its primarily Korean brands.
The agency was founded by Korean car giant Hyundai 20 years ago, in a country where it is commonplace for the big conglomerates to start their own, in-house ad agencies.
It was bought by Cordiant Communications in 1999 and separated from Hyundai shortly after. It became part of WPP when it took over Cordiant in 2003.
Hyundai remains one of its biggest clients, although it no longer has dibs on every piece of the carmaker's ad business after a contract with Diamond finished late in 2004.
Young siad: "Korea is still a unique market in Asia, but we believe the time is ripe for something genuinely new."
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the Forum.
Latest jobs Jobs web feed
- Business Development Executive Bullfrog Digital LTD Up to £30k + Commission and benifits, Shoreditch
- Head of Strategy, Insight & External Relations London & Partners COMPETITIVE + PRP + BENEFITS, London Bridge
- Senior Account Manager Hot Cow Between £32,000 - £35,000 with discretionary bonuses., Near Chiswick Business Park, a fun and vibrant location to work with events, a lake and bars.
- Project Manager - Integrated / Digital - Superb London Agency Fill Recruitment Ltd £40k - £50k plus bonus and superb benefits!, Central London
- Retail Marketing Manager EMEA Callaway Golf Europe Ltd circa £50,000 pa plus benefits, based in Chessington, Surrey
- Client Account Manager Content is King c. £25k per annum dependent on experience, SW1