Samsung Asset Management was found to have replaced an ETF ad posted in early this month after two weeks. The ad was the version that drew criticism for being similar to Mirae Asset Global Investments' ad, sparking a controversy over "copying."
According to ChosunBiz reporting on the 18th, Samsung Asset Management's ad containing the phrase "Reasons to invest in the U.S. with KODEX ETF," which had been played since early this month inside Seoul Subway Line 2 and Shinbundang Line trains and in elevators, was uniformly replaced on the 15th with an ad reading "Pension, do it the Kodex way."
The ad Samsung Asset Management unveiled in early this month was almost identical in wording, layout, and design elements to the "TIGER U.S. S&P 500" ad that Mirae Asset Global Investments posted in early October, a month earlier, prompting a plagiarism dispute. Some even noted that only the colors were different.
In the end, as the controversy grew, Samsung Asset Management swiftly replaced the ad being aired just two weeks after posting. The company explained that it was a "regular replacement unrelated to the recent controversy," but the market sees it as effectively a move to quell the dispute.
Samsung Asset Management also pushed back, saying, "There are cases where it looks like Mirae Asset Global Investments copied our ad first."
This is not the first time there has been controversy over ad similarities between the two asset managers. In September last year, Samsung Asset Management rolled out an ad with a concept of blue and orange sports cars racing, and about a month later, Mirae Asset Global Investments released an ad with a similar concept. As those sports car colors are known to symbolize Samsung and Mirae Asset, respectively, the industry once again saw a flare-up of a "copying" controversy.
Currently, neither the Korea Financial Investment Association, which reviews ads, nor the Financial Supervisory Service has clear sanction standards or regulations for ad plagiarism. It is effectively impossible to impose sanctions after the fact by raising issues with an ad that has already passed the association's review.
However, after this controversy, the association said it would also consider whether there are plagiarism concerns during the ad review process. A Korea Financial Investment Association official said, "We exchanged views related to Samsung Asset Management, a member firm," and added, "We will also look into the possibility of similarity disputes arising during future ad reviews."