Cheil Worldwide
From Wikipedia, the free encyclopedia
| Cheil Worldwide | ||||||||
|---|---|---|---|---|---|---|---|---|
 |
||||||||
| Korean name | ||||||||
|
Cheil Worldwide Inc., is a global marketing and communications company headquartered in Seoul, South Korea.[1] It is South Korea's largest advertising agency and was ranked 16th in the world by Advertising Age in 2006. Cheil offers a wide portfolio of marketing communications services including advertising, PR, sports marketing, exhibition and display production, as well as the production of large-scale performance events. Cheil also operates a Brand Marketing Institute that publishes regular trend reports on the South Korean advertising industry. The current president and CEO of Cheil Communications (as of March 2007) is Nack-Hoi Kim, who has been recognized as a leader in Korea's advertising industry for over 30 years. As part of Kim's vision to become one of the Top 10 ad agencies worldwide by 2010, the executive appointment of Bruce Haines, a former Group CEO of Leo Burnett London was made in April 2008. As President and Global Chief Operations Officer, Haines will be responsible for the globalization and growth of the company, specifically in the overseas markets.
Cheil is an affiliate of the Samsung Group,[2] South Korea’s largest conglomerate, and acts as the worldwide agency-of-record for other group affiliates, such as Samsung Electronics, Samsung SDI, Samsung Fire and Samsung Life. In recent years, Cheil has acquired a growing number of non-Samsung clients, including Korea Telecom, KTF, S-Oil, CJ Corporation, GM Daewoo and Ssangyong Motor Company and Hankook Tire. Cheil also provides marketing communications services for multinationals with operations in the South Korean market, such as Jinro Ballentines (Pernod Ricard), Fidelity Investments, GlaxoSmithKline, Outback Steakhouse and Dunkin Donuts.
In 2006, Cheil registered total consolidated billings of 1.85 trillion won, while its net profit reached 70 billion won.
Contents |
[edit] History
- 1973: Cheil Communications Inc. established
- 1987: Becomes first South Korean advertising agency to win a Clio Award
- 1988: Opens first overseas branch office (in Tokyo)
- 1992: Cheil Communications America Inc.[1] established, with headquarters in New York
- 1997: Wins Gold Lion award at the Cannes Lions International Advertising Festival
- 1998: Listed on the Korea Stock Exchange (KE: 030000)
- 2002: Annual consolidated billings exceed 1 trillion won
- 2004: Selected by Asiamoney as “Korea’s Best Managed Company”
- 2005: Awarded the Grand Award in Korea Advertising Awards
- 2006: Selected by Forbes Asia as one of “200 Best Under a Billion”
- 2007: Name changed to Cheil Worldwide Inc.
[edit] Global expansion
After achieving a dominant position in the South Korean advertising market with billings of more than double that of its nearest rival, Cheil has looked overseas for new growth. From the start of the new millennium, the agency has rapidly expanded its global network from 12 overseas offices in 2001 to 31 in 2006. Cheil’s overseas billings exceeded 50% of total consolidated billings for the first time in 2005, following five years in which annual overseas billings growth averaged 24%. As part of this global transformation, about 500 of Cheil’s approximately 1,300 professionals now work at branch offices outside of South Korea. As of April 2008, Cheil had 35 branch offices in 25 countries.
[edit] Major projects
Internationally, Cheil has carried out a number of high-profile communications campaigns for Samsung Electronics, including the “Imagine” branding campaign spanning 80 countries. It also provides extensive marketing support for Samsung’s role as a Worldwide Olympic Partner. In 2005, Cheil negotiated a five-year sponsorship deal with Chelsea Football Club and a two-year deal with the US National Football League as part of a major sports marketing push by Samsung. Cheil has also executed entertainment marketing tie-ins with pop star Beyonce, movie director Tim Burton and others.
Within South Korea, Cheil has developed a long list of landmark campaigns, including the first South Korean advertisement to feature a celebrity from North Korea. In 2002, it organized the opening ceremony of the 2002 FIFA World Cup and in 2005 arranged the cultural program for the Asia-Pacific Economic Cooperation leaders summit in Busan.
