The South Korean Government has appointed Burson-Marsteller to
handle a global multi-million pound programme of crisis PR activity to
help repair the recent damage to the reputation of its economy.
Burson-Marsteller will advise South Korea on presenting measures to
strengthen its business infrastructure and restore faith in its economy
overseas following the International Monetary Fund’s recent pounds 36
billion bailout of the country’s economy. Last December ten South Korean
merchant banks and numerous businesses failed.
Reports suggest that the South Korean government has a budget of up to
pounds 12 million to spend on the campaign.
The agency will attempt to communicate to international markets details
on how the South Korean economy and stock market works. It will lobby to
rebuild South Korea’s reputation in the US, Japan and Europe where South
Korea owes large debts to banks.
South Korean president Kim Dae-Jung, who took over earlier this week,
has made clear two intentions: to increase exports and attract foreign
investors to the shores of South Korea.
It will be Burson-Marsteller’s task to communicate these goals to
potential investors and foreign governments. Foreign investors are being
invited by the President and key advisers to visit Seoul in mid-March to
hear the outline of his planned reforms.
Burson-Marsteller’s team will be led by its new head of public affairs
in the Asia Pacific region, Ian McCabe, who recently left its New York
office to focus on winning government accounts.
Martin Langford, Burson-Marsteller vice-chairman, said: ’Ian will run
the account from the Hong Kong office but there will be activity in
Europe and the US.’