Mega-size advertisement allowed in buildings around COEX

The Korean version of Times Square will be built near COEX in Gangnam-gu, Seoul. New York City's Times Square in the U.S. is one of the world’s most famous tourist attractions adorned with billboards and advertisements in many different colors created by cutting-edge display technologies.

The Ministry of the Interior of Korea announced on Thursday that it has selected the COEX area as Korea’s first “free display zone of outdoor advertisement.” Under the new policy, mega-size LED displays will be installed on the walls of large buildings in the area, including COEX, Trade Tower, Hyundai Department Store, and Intercontinental Hotel from the second half of next year. The electronic display will show advertisements for 18 hours a day from 6 a.m. to 12 a.m. SM Town and COEX Artium, known as the “Mecca of K-Pop,” will have an electronic display in 60 meters in width and 23 meters in height to air Korean Wave contents.

Up to date, billboards or outdoor advertisements have been recognized as "items to be regulated” in Korea out of concern that they would undermine the beauty of the city. This policy was effective in a way that it deters reckless installations. However, some criticized that such a policy could be an obstacle to make large advertisements themselves attractions as seen in Times Square or London Piccadilly Circus of England. Against this backdrop, the ministry revised related laws in January 2016 and has taken the process to select a free display zone for outdoor advertisement. A total of 11 areas, including COEX, Gangnamdaero, Dongdaemun Design Plaza, Myeong-dong, and Haeundae in Busan, filed applications and the COEX area has been selected after two rounds of eval‎uations.

With the installation of large billboards and advertisements, the COEX area will offer events, such as New Year’s Eve countdown in spectacular lights and colors. Korea’s well-known companies including Samsung and LG have submitted letters of intent to install billboards and advertisements. “The production inducement effect from the free display zone of outdoor advertisement would amount to some 235.3 billion won (approx. 201 million U.S. dollars),” said Shim Deok-seop, head of the ministry's local administration office. “The combination of Korea’s world-class digital technology and outdoor advertisements will make the place a global spot.”

Tae-Ho Hwang taeho@donga.com