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Clear Channel Outdoor has entered into a strategic alliance with GIIR Inc., which owns LG Ad, Korea’s second largest advertising agency, among other companies, to explore outdoor advertising opportunities in Korea, the company announced today.
Korea is one of the top ten advertising markets in the world, with a strong economy and growing consumer base, according to Clear Channel. “It is the type of market that will be increasingly attractive to our global advertisers,” says Paul Meyer, global president of Clear Channel Outdoor.
Clear Channel Outdoor has established operations in Hong Kong, Singapore, Thailand and India and is the majority shareholder in Clear Media Ltd., a leading street furniture company in China. It is also currently seeking expansion in Japan.
WPP is the largest shareholder of GIIR and currently holds a 28.2 percent stake.
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