For the advertising business, 2012 was poor year, says Cheil
Korea’s advertising market grew at a slower pace in 2012 than in the previous year as companies cut back on their marketing spending amid an economic recession, a report showed yesterday.
The local advertising market expanded 2.2 percent on-year to 9.8 trillion won ($8.9 billion) last year, according to the report by Cheil Worldwide, the advertising arm of Samsung Group.
The growth marks a sharp slowdown from a 10.9 percent on-year growth in 2011. The slowdown came as economic woes prompted companies to scale back their spending on advertising and marketing despite major events such as the London Olympics and the Korean presidential election.
By media, TV and newspaper advertising slumped from the previous year. TV advertising dropped 7.1 percent, and newspaper advertising fell 3.2 percent. Yonhap
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