Korean pop star Psy is poised to rock the local advertisement market after sweeping YouTube with his wacky "Gangnam Style" music video, market watchers said Friday.
Samsung Electronics Co., the world's biggest technology company by revenue, on Friday announced Psy and actor-singer Lee Seung-gi as the new faces of its kimchi refrigerator brand. Ads featuring the duo are set to air later this month, the company said.
Lee, popular for his dandy schoolboy image, has frequently starred in Samsung advertisements but the announcement marks Psy's debut in home appliance ads, a field which has been largely ruled by big-name celebrities.
"Psy has emerged as an iconic figure both at home and abroad. He's in the center of a popularity whirlwind," said a Samsung official, who declined to be named due to company policy.
"While female models dominated home appliance ads until a few years ago, male celebrities such as Lee Seung-gi have proven to be a success. We hope the duo will create a synergy for Samsung products," the official said.
Psy's "Gangnam Style" music video, which pokes fun at the affluent business and residential district in southern Seoul, has garnered nearly 116 million hits on YouTube since its July 15 release.
On the back of the viral hit, the pop star landed a contract with Def Jam Recordings, a hip-hop label affiliated with Universal Music Group, and danced his trademark horse dance at an L.A. Dodgers game, successes manufactured Korean idols have eagerly yearned for.
The unprecedented popularity overseas no Korean pop star has previously enjoyed also meant Psy has been wooed by companies hoping to bank on his wacky and addictive song.
LG Uplus Corp., the country's No. 3 mobile carrier, started airing ads featuring Psy in late August. In the music video, Psy shows off his horse dance shouting "Uplus style."
Market watchers said the latest contracts with LG Uplus and Samsung may be only the beginning of his new-found popularity in the ad market. Psy is reportedly in talks with around 10 companies, which could lead to a paycheck of roughly 5 billion won ($4.4 million).
"Although we can't specify the names, companies in various industries, including apparel and beverages, have contacted Psy. He also shot some advertisements after returning home from his recent U.S. visit," said an official at his management agency, YG Entertainment, declining to be named since she was not authorized to talk about the issue.
Advertisement experts said the LG Uplus and Samsung advertisements mirror Psy's global success.
"Clinching a deal with Samsung Electronics, the country's most valuable company by market cap, shows his star power," said Choi Joon-hwan, an adjunct professor at Seoul-based Kookmin University.
"Since major companies usually prefer top models or seasoned celebrities to represent their products, the recent deals reflect how importantly he is valued by companies and consumers," said Choi, a former executive at Cheil Worldwide, Samsung's in-house ad agency that produces most Samsung ads.
The professor said Psy's fun and familiar image is likely to appeal to consumers as they grow more inclined to "emotional" aspects than "logical" factors, even when purchasing costly products and services. (Yonhap)