SEOUL– South Korea’s advertising market grew 8.6 percent in 2021 from a year earlier, led by strong demand in digital advertisements, a government report showed Wednesday.
Advertising expenses amounted to 18.9 trillion won (US$14.9 billion) last year, according to the report from the Ministry of Culture, Sports and Tourism.
The report was based on data compiled from 1,900 selected companies nationwide.
Advertising agencies accounted for the biggest market share with 7.7 trillion won in sales, followed by online ad agencies with 4.8 billion won and ad service providers with 3.9 trillion won.
Ads on media, including broadcasting, print, online and billboards, took up 72.2 percent, while the rest were from ad services, publications and productions.
The digital market, including PC and mobile ads, increased 9.7 percent on-year to 7.2 trillion won in 2021, taking up 53 percent of the total. Mobile ads accounted for 36.6 percent of total expenditures, far surpassing PC ads with 16.3 percent.
Source: Yonhap News Agency