In a significant development, Hyundai Motor India on November 10 announced the launch of its own agency in India. The Korean automobile major will launch its new agency, christened Innocean, by early next year.
Sources in the industry informed that a decision to set up a new agency had been taken by the parent company in Korea. The new agency will look after the creative business of all the brands of Hyundai.
Interestingly, Hyundai already has an internal agency in South Korea, which is headed by Y K Choi. The agency is also called Innocean. The same name will be retained for the Indian agency as well.
Sources in the industry also informed that the new agency would be headquartered in Delhi and that there were plans to open another branch in the next six to eight months.
With India, Innocean is going to add its fourth office in its worldwide chain. Plans are afoot to open 14-15 more offices worldwide in the next 12 to 18 months.
The team for the Indian operations is still in the process of being put together, which is likely to be finalised by next week.
At present, Cheil Communications handles the creative business of most of the brands of Hyundai, while Saatchi & Saatchi handles the creative duties for Santro and Getz. The media business is also being handled by Cheil Communications.