A. Guttmann
Research Lead covering media
Advertising industry in South Korea - statistics & facts
The ever-expanding South Korean advertising market is one of the largest advertising markets worldwide. While it has shown steady growth over the previous years, many industries slashed their advertising budgets in 2020, leading to a fall in revenue for advertising companies. Some, however, such as the shopping sector, increased their spending on ads as their services were well-suited to customer convenience during the beginning stages of the coronavirus (COVID-19) pandemic. Cheil Worldwide Inc., one of the Asia-Pacific’s leading advertising agencies, reflects this experience, with a decrease in their 2020 revenue, followed by a recovery in 2021 and a five-year high of nearly 1.3 trillion South Korean won.
