O Young Lee, Korea's first Minister for Culture and current advisor to one of the country's prominent multimedia groups, JoongAng Ilbo Media Network, which boasts newspaper, online and television platforms, told delegates at AdAsia that consumers are reinventing the advertising industry through user generated content (UGC).
"You are the people who are closest to the scene but you do not have the advantage of a long-sighted view. So in fact its outsiders who are perhaps in a better position to see and act on the digital trends. In this case, advertisers and agencies will no longer be the creators, it will be the consumers," he said.
Lee noted that much of the UGC available online was becoming semi-professional in nature, adding that many brands were beginning to utilise this content as a strategic part of their communications platform, rather than work created by agencies.
