Expanding its operations in the Asia Pacific region, global
communications conglomerate WPP Group has acquired South Korean
media planning and buying agency Alchemedia for an an undisclosed
The South Korean agency was founded in 2004. Alchemedia's
audited revenue for the year ended 31 December 2011 was 1.4
billion Korean won (KRW), with gross assets of KRW 10.0 billion.
Alchemedia is based in Seoul and will be merged with GroupM
Korea. The combined client list of the two entities include
brands like Audi, GSK, Hicos Fragrances, IBM, LG Electronics,
Lock & Lock, Procter & Gamble, Sejung Fashion, Red
Bull, Rolex and VW.
Recently, WPP announced during the 59th Cannes Lions Ad Festival
held in France that it has acquired one of the biggest independent
digital agencies AKQA for an estimated $ 540 million.