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FCB ADDS AFFILIATE IN SOUTH KOREA UNION/FCB: A JOINT VENTURE WITH UNION ADVERTISING

 FCB ADDS AFFILIATE IN SOUTH KOREA UNION/FCB:
 A JOINT VENTURE WITH UNION ADVERTISING
 CHICAGO, Sept. 23 /PRNewswire/ -- FCB International, a subsidiary of Foote, Cone & Belding Communications, Inc. (NYSE: FCB), announced that it has signed an exclusive affiliate agreement with Union Advertising, Inc., headquartered in Seoul, South Korea. Union is South Korea's oldest and largest independent advertising agency. It ranks as the 8th largest agency overall in that country. The agreement marks FCB's first joint venture in South Korea.
 According to the agreement, the International division of Union Advertising, Inc., will be renamed Union/FCB. The joint venture will provide professional services to FCB multinational clients and pursue new business in South Korea, one of the region's most dynamic economies and the second largest advertising market in Asia. Andrew Lee, director of Union Advertising's International division, will lead the operation, which will remain a wholly owned subsidiary of the Korean agency.
 All of FCB's resources will be at the disposal of the joint venture including professional and technical support as well as training. The company has the option to assume an ownership position in the joint venture after one year.
 Clients served by Union/FCB at the outset will include Nestle, Lancome and Garuda Indonesia Airlines.
 "Union/FCB melds the outstanding local talent of Union Advertising, a well-established agency with deep roots in the Korean marketplace, together with the resources of FCB's global network," said Craig Wiggins, chairman of FCB International. "We're confident this joint venture will provide superior service to our existing clients and enhance FCB's overall growth by serving as a key hub of our Asian expansion," he concluded.
 Foote, Cone & Belding Communications, Inc., is the 8th largest marketing communications company in the world. It has a network of 176 offices in 43 countries with worldwide billings totaling $6 billion.
 -0- 9/23/92
 /CONTACT: Owen J. Dougherty of Foote, Cone & Belding Communications, Inc., 312-751-7789/
 (FCB) CO: FCB International; Foote, Cone & Belding Communications, Inc. ST: Illinois IN: ADV SU:


AH -- NY063 -- 2686 09/23/92 13:22 EDT
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Publication:PR Newswire
Date:Sep 23, 1992
Words:340
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