Korean ad spending booms

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South Korea, hard hit by the 1998 economic crisis in Asia, saw ad spending soar 32.6% to $4.2 billion in 1999, according to Samsung-owned Cheil Communications, Seoul, the nation's biggest agency. The dramatic rise was attributed mainly to the economic recovery. Cheil's annual survey showed newspapers were the top earners, with $1.6 billion in ad sales. TV stations earned $1.4 billion. Internet-based advertising only brought in about $73 million. "The Internet spending just hasn't boomed yet,'' a Cheil spokesman said.

Copyright March 2000, Crain Communications Inc.

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