WPP to snap up South Korean agency

Highly acquisitive media giant WPP has agreed to acquire the South Korean media planning and buying agency, Alchemedia, which will be merged into its GroupM Korea subsidiary.

Highly acquisitive media giant WPP has agreed to acquire the South Korean media planning and buying agency, Alchemedia, which will be merged into its GroupM Korea subsidiary.

Alchemedia, founded in 2004 and based in Seoul, generated revenues of 1.4bn South Korean won (£0.78m) in 2011 and had gross assets of KRW 10bn.

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