Innocean to enter Japanese ad market

Innocean Worldwide Inc., the global marketing communications arm of Hyundai Motor Group, announced on Monday it signed a memorandum of understanding (MOU) with ADK, a major Japanese advertising agency.

Established in 1956, ADK is a Tokyo-based comprehensive advertising agency that has 11 branches in Japan and overseas corporations in 13 countries.

ADK is renowned for its expertise in a wide range of areas, including creative planning and production, brand consulting, user experience and design (UI/UX), web design, space design, media planning and buying, content planning, and production.

Innocean aims to expand into the Japanese ad market, one of the world's most dynamic and competitive advertising landscapes with ADK. 

Under the terms of the MOU, both companies will form a collaborative team to engage in substantial cooperation. This will encompass the exchange of creative resources and capabilities, the exploration of new business opportunities, and the consideration of joint investments.

Innocean will also play a pivotal role in assisting Korean companies in entering the Japanese market.

"Collaborating with reputable local companies is crucial for successful entry into the Japanese advertising market," CEO of Innocean Lee Yong-woo said. "By harnessing the unique capabilities of Innocean and ADK, we will provide a truly distinctive global service."

The MOU with ADK is the latest in a series of strategic partnerships that Innocean has established with major advertising agencies in Asia. The company has previously signed MOUs with agencies in Singapore and Thailand.

Write to Mi-Kyoung Lee at capital@hankyung.com