SEOUL, June 15 (Korea Bizwire) – South Korea’s advertising expenditure for 2015 was the sixth largest among member countries of the Organization for Economic Cooperation and Development, a report showed Tuesday.
Advertising expenses in the country reached US$11.8 billion last year to trail behind the United States, Japan, Germany, Britain, and France, according to the report by the Korea Advertisers Association (KAA).
The report said the local advertising market expanded by 5.4 percent and 6.2 percent on-year in 2014 and 2015, respectively, surpassing the annual growth rate of the country’s gross domestic product (GDP).
The country’s top 10 advertisers accounted for 14 percent of the total expenditure, surpassing that of the U.S. with 10.9 percent and Japan with 6.5 percent, the KAA report said.
The top 10 advertisers in 2015 were tech giant Samsung Electronics Co., top automaker Hyundai Motor Co., LG Electronics Co. and the Big Three local mobile carriers — SK Telecom Co., KT Corp. and LG Uplus Corp., it said.