PMG announces new office in Seoul

RNS Number : 0197K

Parallel Media Group PLC

08 July 2011

 



08.07.11

Parallel Media Group PLC

("PMG" or the "Company")

PMG announces new office in Seoul, South Korea

and

Joint Venture with Harlequin

Following the recent announcement that South Korea will be hosting the 2018 Winter Olympics, PMG, a leading sports marketing and promotion company, is pleased to announce the establishment of Parallel Media Korea (PMK), a new wholly owned subsidiary of PMG in Seoul, South Korea.

This further strengthens PMG's position within the South Korean sports events sector and will allow for significant expansion of operations in this important sports region. The office will be managed by Sonia Hong, President of PMK.

PMG is also pleased to announce the establishment of a new joint venture ("JV") company in conjunction with Harlequin, Marquees and Events Services Limited ("Harlequin").  Harlequin provides marquee installation and related services for major sporting events.  The JV company, of which PMG and Harlequin are to share equal ownership, will provide marquee and temporary building solutions for sports and associated events in South Korea. 

The recent launch of Parallel Smart Media (PSM), the new JV company with Harlequin, and the setting up of PMK and a new South Korean office illustrate PMG's belief in the region and provide a unique offering to the South Korean events market, further establishing PMG as the premier international sports marketing and media company for South Korea.

David Ciclitira, Chairman, Parallel Media Group, commented:

"PMG has been active in South Korea for the last four years. I am personally very excited about the recent developments and the impact that they will have on the growth of our business. Having recently launched our new smart media viewing platform in conjunction with Talspace, we are delighted to have another high profile partner in place.

Korea is now hosting two of the largest multi-venue sporting events, 2014 Asian Games and the 2018 Winter Olympic Games.  I believe that our ability to offer sports marketing advice, marquee solutions and a state of the art smart media viewing platform gives PMG a unique position."

Paul Berger, CEO, Harlequin  commented:

"We were delighted to work with PMG during this year's successful Ballantine's Championship in South Korea and are very much looking forward to working more closely with PMG in South Korea in the future"

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For further information, please contact:

Parallel Media Group                                                                                                     020 7225 2000

David Ciclitira                                                                                                                    0776 605 8566

Charles Wale                                                                                                                     0792 001 7360

Northland Capital Partners                                                                                         020 7796 8800

Luke Cairns, Edward Hutton

Bishopsgate Communications

Laura Stevens, Deepali Schneider, Natalie Quinn                                             020 7562 3350

[e-mail]

Note to Editors:

Parallel Media Group

Parallel Media Group plc is a leading sports marketing, media and event management Company. Founded in 1987 by its Chairman David Ciclitira and listed on the London Stock Exchange's AIM since 2001, PMG specialises in executive sports, focusing on golf and aims to provide its clients with world class professional service, combining local market knowledge with international business expertise to deliver a new vision for sport.  PMG also provides digital solutions and Smart Media Platforms through its joint venture, Parallel Smart Media.

Harlequin

For over thirteen years Harlequin has been the Gulf's market leader, designing and delivering turn-key solutions for structures and interiors, both for short term events and long term semi-permanent use.

 

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