Grey Group extends South Korea's agency income
The Grey Group has acquired a majority stake in Vinyl I-Co, a leading creative digital agency based in Seoul, South Korea, thus extending the WPP group's reach in the country, where its companies and associates generate revenues of over $300m and employ around 1500 people.
Established in 2000, Vinyl-I has evolved from a web/UX design agency to an award-winning full service digital advertising agency, which incorporates new media technology to enhance user experience, especially in the area of interactive design. Its clients include GS Shop, Intel, L'Oréal, Lotte, Microsoft, Naver, Nike, Samsung, SK Telecom and SM Entertainment.
For the year ending 31 December 2014, Vinyl-I reported gross revenue of KRW 12.8 billion, with gross assets of KRW 4.2 billion and employs more than 70 people.
