2014 World Cup Brazil: Economic gain for Korean companies & national brandUpdated: 2014-06-12 20:02:05 (KST)
Let's shift our focus back here at home, where people are still reeling from the Sewol-ho ferry disaster. We might see fewer crowds cheering at Seoul Plaza during games like we've seen in the past.
But these World Cup games are expected to give the Korean economy a much-needed boost, aren't they?
That is correct. As you just saw in the schedule, all matches are scheduled to start in the early morning hours here in Korea.
That makes it difficult for a lot of people to watch it along with friends, like in years past.
While bars may not be seeing much of a rise in revenue, TV makers stand to benefit as people take this an opportunity to upgrade their TVs so they can watch the games in higher definition in the comfort of their own homes.
Samsung Electronics saw a 30 percent rise in UHD television sales in May from a month earlier -- and is looking forward to a 100 percent rise this month.
But of course -- the official sponsors would see the biggest returns.
Hyundai Motor Group is the only automaker among the six FIFA partners.
The automaker has been sponsoring the world's biggest football event for more than a decade now and to maximize their return on investment -- the World Cup itself must be a hit in terms of viewer ratings.
"Both the U.S. and Europe have less than a four-hour time difference with Brazil. That makes it easier to attract potential market consumers to watch the games.
Hyundai and Kia Motors have been launching new models in the U.S. and Europe from March to July, which could maximize the promotional effect coupled with the World Cup."
Analysis by Hyundai and Samsung Research Institutes suggests that IF Korea advances to the round of 16, the nation can expect 1.3 billion dollars worth of brand publicity.
But if they don't make it past the group stage -- the effect will be a mere 450-thousand dollars.
Yes, we're all hoping for some thrilling victories from the Korean squad, so we can continue cheering for the team well into July.
Thank you, Jisun, for the preview.
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