BBDO Worldwide buys majority stake in South Korean agency

BBDO Worldwide has bought a 50.1% stake in South Korean advertising agency Dongbang Communications for an undisclosed sum.

BBDO Worldwide has bought a 50.1% stake in South Korean advertising agency Dongbang Communications for an undisclosed sum.

The move is hoped to improve BBDO's position in South Korea. Dongbang, already the local agency for BBDO clients Visa and Daimler/Chrysler will be renamed BBDO/Dongbang.

Other BBDO clients in the region have accounts with other agencies, but BBDO said it would "persuade" them to switch in the near future.

The deal also means Dongbang's parent company, Pacific Group, can tap BBDO's strength to build its line of cosmetic products into a powerful global brand.



Topics