Advertising spending by South Korean companies reached a record high in 2011, led by ads in new media and newspapers, a local ad agency said Monday.
According to Cheil Communications Inc., South Korea’s largest ad agency, local companies spent a total of 9.56 trillion won (US$ 8.47 billion) on advertisements last year, up 11 percent from the previous year.
The increase was mainly driven by a hike in spending on new media such as cable TV and the Internet, which jumped 18.5 percent and 20 percent, respectively, from a year ago to reach 1.14 trillion won and 1.86 trillion won last year, the report said.
Ads in newspapers also increased 2.2 percent on-year to 1.7 trillion won, it said.
Outdoor ads also played a part in the spending increase, up 12.7 percent from a year earlier to 845 billion won last year, the report showed.