Advertising market exceeds 10 trillion won milestone

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Advertising market exceeds 10 trillion won milestone

Korea’s advertising market exceeded the 10 trillion won ($8.77 billion) mark for the first time in history last year, authorities said yesterday.

The Ministry of Culture, Sports and Tourism and the state-run Korea Broadcast Advertising Corporation put the nation’s advertising at 10.32 trillion won for 2010, up 12.37 percent from 2009’s 9.19 trillion won.

The size of the market previously hovered around 9 trillion won since 2006. The ministry said the country’s economic recovery and the presence of international sports events such as the World Cup finals in South Africa and the Summer Asian Games in Guangzhou, China, were factors behind the brisk marketing activities by local corporations last year.

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