11th Jun 2007 07:00
WPP Group PLC11 June 2007 FOR IMMEDIATE RELEASE 11 June 2007 WPP GROUP PLC ("WPP") Ogilvy acquires Lee & Jang in South Korea WPP announces that its wholly-owned operating company Ogilvy has agreed toacquire a 70% stake in Lee & Jang, a leading digital marketing agency in SouthKorea. Founded in 2001, Lee & Jang is based in Seoul and employs 35 people. Clientsinclude Citibank, Daewoo Securities, PCA Life, Samsung Securities and WooriInvestment & Securities. Lee & Jang unaudited revenues for the year ended 31 December 2006 were KRW2,175m, with gross assets at the same date of KRW 2,012m. This investment continues WPP's strategy of developing its networks in fastgrowing markets and sectors and strengthening its capabilities in digital media. Further information: Contact:Feona McEwan, WPP + 44 (0)20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
WPP