Space Asia Media announced the establishment of its Singapore office while DoubleClick Asia prepares to inaugurate DoubleClick Korea to capitalize on the Korean online ad sales market.
Space Asia says their firm is expanding rapidly in the region, and the S’pore office has already signed contracts with local conglom Catcha Group as well as Singapore Press Holdings, Buzzcity and cnbcasia.com. Space Asia claims a network of more than 150 sites in Asia and Australia.
Completing the first stage in its regional expansion with fully operational offices in Singapore, Sydney and Hong Kong, the company says it will soon announce more offices in key Asian countries by the middle of the year.
Meanwhile, DoubleClick Asia announces the launch of DoubleClick Korea, a JV between DoubleClick Inc. and Asiacontent.com.
Kenny Chung, CEO of Asiacontent.com Korea, said that the Korean ad sales market has enormous potential, adding that DoubleClick Korea would be well positioned to take advantage.
DoubleClick Asia quoted a study from Korea’s Ministry of Information and Communication which stated that the number of Korean Netizens topped 7 million by year-end 1999 and was expected to reach 20 million by 2003, with B2C e-commerce valued at US$4 billion by the latter date.
“The delivery of targeted advertising to audiences across Asia is a key element in Asiacontent.com’s consumer focused Internet business which integrates online content, advertising, and e-commerce,” declared Asiacontent.com CEO Chris Justice.
However, Space Asia’s managing director Colin McIntosh countered that as advertisers begin to understand the nature of the Internet, the value of his firm’s independence will become apparent. McIntosh said that Space Asia does not compete with advertising agencies, nor does the firm publish its own Web sites.