According to sources, Leo Burnett and TBWA will make final presentations for two regional assignments — each worth an estimated US$10 million. While one brief is for a pan-Asian ad campaign, the other accompanies Mirae's planned launch in India in the second half of 2007.
Mirae is considered the largest asset management business in Korea, and manages a total of four trillion won (US$4.2 billion) in its equity-linked funds portfolio. The current advertising does not include its US$40 million domestic business, handled by a local creative boutique.
Mirae chairman Park Hyeon Joo disclosed earlier this year that the company is looking to acquire eight companies abroad. The group currently has overseas asset management arms in Hong Kong and Singapore.