Cheil builds ties with FacebookCheil Worldwide, the advertising arm of Samsung Group, announced Monday it recently signed a joint business partnership with Facebook, the first Korean company to do so.
Under the agreement, Facebook will help Cheil make efficient use of it as an advertising platform.
The two companies will cooperate to develop advertising on different platforms, including Instagram.
Facebook plans to invite Cheil’s executive and staff members to the Facebook Ambassador Program for global digital marketing education and networking, as well as help Cheil staff complete Blueprint, Facebook’s marketing education program.
Thanks to the deal, Cheil will be able to strengthen its operations on the Facebook advertising platform, which is used by more than three million companies worldwide. Cheil hopes that it will be able to improve its advertising network and expand its operations in other sectors by working with these companies.
In return, Facebook should be able to expand its network in the advertising industry thanks to Cheil’s various domestic and foreign advertisers, giving itself greater influence in the industry.
“After signing a business partnership with Google in April and now one with Facebook, we expect to solidify our foothold in the digital media industry, which is one of our main strategies of growth,” a Cheil spokesman said. “We are going to push ahead in using a variety of digital advertising platforms such as Facebook and YouTube.”
Ever since talks broke down last month between Cheil and the France-based advertising giant Publicis Groupe about forming a strategic partnership, the Seoul-based company has been stepping up efforts to diversify its business. For two weeks last month, the company ran a special 4-D Theater on the rooftop of its building to promote its ability to use virtual reality as one of its marketing tools.
BY HAN JAE-YONG [firstname.lastname@example.org]