TAIPEI (Taiwan News) — Asia’s premier digital marketing conference, DigiAsia, took place at Taipei Expo Park this week (Nov. 17-Nov. 19) and invited influential speakers in advertising to share insights on industry trends.
Esteemed guests included Kim Nack Hoi, chairman of the Korea Federation of Advertising Associations (KFAA) and Ben Heo, a professor at Hanshin University and chairman of the upcoming AdAsia 2023 conference in Seoul.
On Nov. 17, Taiwan was honored to interview the two veterans of the advertising industry, who shared their views on developments in digital marketing and discussed next year's ad conference in Seoul.
To emphasize the increasing importance of advertising in the digital arena, Kim said that advertising expenses in Korea in 2021 reached almost $12 billion USD, with 54 percent spent on digital advertising. Television and radio accounted for only about 24 percent, with a little over 10 percent going to print advertising. Only about 5 percent was spent on outdoor advertisements.
In the realm of digital advertising, more than half of the expenses were spent on video ads, like those found on streaming platforms such as YouTube. Most of the rest was spent on search engines like Google to display sponsored ads.
In light of these trends, Kim said that it is clear that digital advertising is moving in a direction that will be more user-targeted. Companies are making use of big data to better understand consumer online behavior, which will help them to target relevant customer groups, whether through ads on websites or through feeds on social media platforms like Instagram or Facebook.
New developments in AI, the Metaverse, NFTs, and other emerging technologies are going to open up entirely new frontiers for advertisers and also accelerate the trends we are already seeing, says Kim.
Both Heo and Kim agreed that in the new era of digital transformation, the focus of advertising and marketing needs to be reconsidered. Beyond simply selling products, companies must consider the content of ads and their advertising methods. Both should also be oriented towards satisfying the consumers.
Ben Heo expressed his excitement for AdAsia 2023 conference, which will be held at the COEX center in Seoul’s Gangman District, from Oct. 23 through Oct. 27. Over 4,000 industry professionals, including over 1,000 from abroad, are expected to attend the event.
The AdAsia event has a history going back 64 years, with conferences focused primarily on traditional advertising in print and television. However, next year’s AdAsia, with its theme of “Transform, Play, Connect,” may be one of the biggest and most influential ever. In 2023, the event will be reoriented toward the new era of digital advertising.
Heo said that he was very happy to attend the DigiAsia event in Taiwan, and he hopes Taiwanese advertisers will be able to join him at AdAsia 2023 to pursue further exchanges relevant to digital advertising in Asia. Numerous exhibitions and activities are planned, and Ad Asia 2023 will be a forum to build networks and create new business opportunities, said Heo.
College students in marketing should consider joining the creative advertising competition for young people; winners will be given free transportation, accommodation, and entry to AdAsia 2023. Kim also added that there will be K-Pop performances and lectures focused on the explosion and success of the Hallyu culture or “Korean wave” phenomenon in entertainment.
Note: This article is a translation of a Taiwan News report in Mandarin that was first published on Nov. 18.
