According to the '2024 Broadcasting and Telecommunications Advertising Cost Survey' announced on the 9th by the Ministry of Science and ICT and the Korea Broadcasting Advertising Corporation (KOBACO), the trend of decreasing broadcasting advertising and increasing online advertising continues. In 2023, domestic broadcasting and telecommunications advertising costs amounted to 16.54 trillion won, accounting for 0.74% of GDP, and increased by 0.1% compared to the previous year. The advertising cost for 2024 is expected to be 17.7 trillion won.
The composition of advertising costs in 2023 showed online advertising at 9.3653 trillion won (56.6%), broadcasting advertising at 3.3898 trillion won (20.5%), print advertising at 2.2261 trillion won (12.2%), and outdoor advertising at 1.2208 trillion won (7.4%). Broadcasting advertising decreased by 15.7% compared to the previous year, with terrestrial broadcasting down 18.7%, PP down 13.9%, and IPTV down 24.7%. The broadcasting advertising cost for 2024 is projected to decrease by 10.8% to 3.0253 trillion won.
On the other hand, online advertising increased by 7.6% compared to the previous year, with mobile advertising up 7.1% and PC advertising up 9.1%. Online advertising in 2024 is expected to reach 10.1358 trillion won, an increase of 8.2%.
In 2023, print advertising totaled 2.2261 trillion won, reflecting a 4.8% decrease compared to the previous year, while outdoor advertising recorded an increase of 14.2% to 1.2208 trillion won. In 2024, print advertising is projected to increase by 0.7% to 2.0394 trillion won, and outdoor advertising is expected to rise by 3.1% to 1.2591 trillion won. Notably, digital signage drove the growth of outdoor advertising, increasing by 43.9% to 504.2 billion won.
As of 2023, the number of individuals engaged in advertising work in the country is 23,767, with 46.8% representing the print advertising market.