Innocean (South Korea)

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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. Gross profit hit KWon 393bn ($347m) in 2017. Non-Hyundai clients accounted for more than a third of Korean revenues, but only a small proportion of international business. 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.

Capsule checked 4th October 2018

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Recent stories from Adbrands Weekly Update:

Adbrands Social Media 16th Jul 2018: Some really lovely touches in Innocean Australia's latest campaign for Hyundai. Every family knows the full horror of those back seat battles on interminable car journeys. And let's face it, the journeys really are interminable in the vastness of Australia, where it takes you an hour just to pop out for a carton of milk. Buckethead vs Stupid-face! Marvellous! Only problem is that, after an excellent first 30 seconds, the agency couldn't come up with a good way to round off the spot. One last gag would have been the cherry on top. Oh well. Still great.

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: 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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