Hong Kong dot-com buys Korean Web agency

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SEOUL--Asiacontent.com, a Hong Kong-based Internet service company, has acquired Kinopia, Korea's second-largest Internet advertising agency.

"Kinopia gains a strong partner enabling it to strengthen and expand its Internet advertising services both in Korea and around the region. Asiacontent.com gains an important presence in the key market of Korea, which is now behind only Japan in terms of speed of growth in the Internet business in the region," says Asiacontent.com CEO Christopher Justice.

Kinopia began as an online advertising agency five years ago. It now plans to add three new business divisions: e-commerce, media selling and content creation. Recent clients include Web site production andmanagement for Yuhan Kimberly diapers and Hansol PCS mobile phones. On Jan. 25 it will launch Korea MTV online.

Kinopia holds the Korean advertising accounts for Samsung Electro-Mechanics, LG-Caltex Oil and Cathay Pacific Airways.

Asiacontent.com was established in May 1999 to provide content, advertising and commerce services in Asia. So far, Asiacontent.com has set up shop in Hong Kong, Singapore, Taiwan and South Korea. Next it plans to expand to China and India.

Copyright December 1999, Crain Communications Inc.

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