WPP Group PLC
7 April 2000
WPP GROUP ('WPP')
J. Walter Thompson sets up joint venture in Korea
WPP's wholly-owned operating company, J. Walter Thompson
Company ('JWT'), the global advertising agency group,
announces a joint venture with Korean Technology Banking
Corp ('KTB'), a national venture capital company, to
establish a digital agency, Thompson Digital KTB. JWT will
own 51% and have day-to-day control of the new agency and
KTB and its affiliates will hold the remaining 49%.
The new agency, which will be headed by Dong Wook Kim,
Managing Director of JWT Korea, will specialise in providing
comprehensive marketing communications including online and
offline advertising and consulting to internet start-up
companies.
This venture continues WPP's objective of strengthening
existing networks in growth segments, such as web-based
marketing communications.
For further information, please contact:
Feona McEwan at WPP London 020 7408 2204
www.wpp.com
www.jwtworld.com
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