BBDO snaps up Korean shop

<p>BBDO Asia-Pacific has strengthened its presence in Korea, acquiring </p><p>a majority 50.1 per cent stake in local agency Dongbang Communications </p><p>from parent company Pacific Corporation. </p><p><BR><BR> </p><p>The acquisition has resulted in BBDO dissolving its partnership with LG </p><p>Ad. BBDO regional managing director Peter Wilken said the acquisition </p><p>was aimed at creating a more effective foothold in the world's 12th </p><p>largest advertising market. He added that both BBDO and Dongbang would </p><p>benefit from the arrangement. </p><p><BR><BR> </p><p>"This (the acquisition) provides a powerful platform for MNC clients </p><p>wanting to operate in Korea and it gives Korean companies access to </p><p>BBDO's global network of resources," said Mr Wilken. </p><p><BR><BR> </p><p>The new operation - BBDO/Dongbang Korea - becomes an instant challenger </p><p>to the top-10 ranked agencies, with billings in excess of USdollars 90 </p><p>million and a list of blue chip clients, including Visa International, </p><p>Sony, Siemens, Mercedes and Pacific Corporation's brands such as </p><p>Laneige, Mamonde and Iope. </p><p><BR><BR> </p><p>Mr Allen Rosenshine, BBDO worldwide chairman and CEO, said, "The </p><p>marriage of a strong, established Korean agency with the creative </p><p>heritage and worldwide network resources of BBDO creates a force to be </p><p>reckoned with in Korea." </p><p><BR><BR> </p><p>Mr J.B. Park has been named the CEO of BBDO/Dongbang Korea. He was </p><p>previously the managing director of Leo Burnett Korea. </p><p><BR><BR> </p><p>He said the primary task now was to build up an even stronger base of </p><p>people and skills. "We've been encouraged by the interest shown by </p><p>prospective clients, and if we focus on delivering the top quality </p><p>product we are capable of, growth should follow," he said. </p><p><BR><BR> </p>