Innocean is in effect the inhouse agency of the Hyundai Group, controlled by the carmaker's controlling family. But although that conglomerate remains its biggest client, the agency has extended its offer to a variety of other companies in Korea or neighbouring Asia Pacific markets. In the West, though, it is known primarily for its work for the Hyundai and Kia automobile accounts. Unlike Korea's other "connected" agencies, such as Samsung's Cheil or LG-linked GIIR, Innocean mostly has sole charge of the two car companies' business, working with local partners in only a handful of counties, and it has established a creative team and an international network capable of doing full justice to that responsibility, with outposts in 16 major international markets. Innocean's creative work for Hyundai in particular regularly transcends expectations of what might usually be expected from an inhouse agency. In 2015 it founded Canvas Worldwide, a new joint venture with US-based Horizon Media, to handle media for the Hyundai and Kia brands in North America. At the end of 2017, it brought US advertising for Kia Motors inhouse with the acquisition of local incumbent David & Goliath. Innocean was founded in 2005 by Chung Sung-yi, the daughter of Hyundai chairman Chung Mong-koo, and she is still connected with the agency as an advisor and its biggest shareholder. Ahn Kun-Hee is now global CEO. In 2015, the agency issued an IPO of part of its equity in Seoul. It declared gross profit of KWon 318bn ($280m) in 2015. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
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Capsule checked 19th August 2016
Adbrands Weekly Update 21st Dec 2017: Hyundai's group-controlled agency network Innocean has acquired creative agency David & Goliath, longtime custodian of the US account for Hyundai satellite Kia Motors, and creators of the famous Kia hamsters. According to reports, D&G was valued at almost $72m, representing a big payout for co-founder and CEO David Angelo.
Adbrands Weekly Update 20th Aug 2015: Horizon Media, the last remaining media independent of size in the US, agreed an important partnership deal with Innocean Worldwide, the global creative network controlled by carmaker Hyundai Kia. Rather than accept a buyout offer, Horizon becomes equal partner in a newly created media joint venture, Canvas Worldwide that will take control of the combined local media for the Hyundai and Kia brands, worth around $700m in billings, from January 2016. (The accounts move from Interpublic's struggling Initiative network). As the name suggests, the new unit will ultimately extend Horizon's reach globally. In a statement the partners said: "Canvas will bring a new, entrepreneurial team that is not associated with any media holding company, providing independent thought and action... The independent nature of Canvas is a perfect fit for the bold, entrepreneurial nature of Hyundai."
Adbrands Weekly Update 25th Jun 2015: Korean advertising network Innocean Worldwide has appointed Jeremy Craigen, previously global creative director for the Volkswagen account at DDB, as global chief creative officer. One of the few DDB executives to survive the merger of DDB London and Adam&Eve, Craigen finally left that network in the Spring after no less than 25 years at the agency. His appointment by Innocean is likely to add considerable lustre to that agency's output for its cornerstone client Hyundai.
Adbrands Weekly Update 28th Nov 2013: Innocean Worldwide, the creative network closely associated with auto giant Hyundai, scored a major coup by securing Saatchi & Saatchi's former global creative chief Bob Isherwood as worldwide creative advisor and chair of its global creative council.
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