WPP expands in South Korea

ADVERTISING giant WPP yesterday snapped up South Korean media planning agency Alchemedia for an undisclosed sum.

Alchemedia has been valued at around 10bn won (£5.6m) and will be absorbed into WPP’s Korean arm GroupM.

The purchase is the latest purchase in Sir Martin Sorrell’s shopping spree, following the takeover of French consultancy I&E and the £343m investment in digital marketing agency AKQA last month.