Food, finance sectors were South Korea’s biggest ad spenders for first half of 2023, report
Data released by Nielsen Ad Intel, Asia’s most comprehensive ad spend monitoring service, has revealed how heavily South Korean businesses and industries invested in advertising for the first half of the year.
The analysis delivers an accurate view of advertising trends and spending between January and June this year.
Which industry spent the most on advertising in the first half of 2023?
When it came to ad spend, Nielsen Ad Intel rankings showed the Food sector to be the leader for the first half of 2023, investing ₩644,229,100 in ads to tempt the taste buds of South Koreans.
In second place, with an ad spend of ₩636,131,100 was the Finance, Insurance and Securities sector, followed by Computers and Telecommunications, with a category spend of ₩478,159,300.
Aaron Rigby, Managing Director (Advertisers & Agencies), Nielsen Asia: “As the advertising environment becomes more complex, brands, agencies and media owners need the latest quality competitive intelligence to differentiate themselves from the competition and to carve out the best path forward for their brands and media. Helping you understand the advertising around you to improve your own is the core purpose of competitive Intelligence and nothing does that better than Ad Intel.”
YongHoon Cha, Associate Direcor, Nielsen Media Korea: ”These Ad Intel numbers for the first half of the year clearly show that marketers are backing advertising as the best, most cost-effective way to connect brands with customers, while also keeping them engaged.
What they also demonstrate is that marketers need to be more savvy than ever about how they invest those ad dollars, utilising the very best data to get an edge on their competition and maximise their ROI.”
At an advertiser group level, the top three remained unchanged from H2, 2022, with Samsung cementing its place as South Korea’s biggest advertiser, followed by Hite Jinro and LG Electronics respectively.
