Cheil Worldwide Establishes Maghreb Corporation to "Expand Emerging Market Business"

Jung-A Market 10th Hub
Strengthening MENA (Middle East and North Africa) Regional Network
Morocco Retail and Digital Services... Expansion to Tunisia and Algeria

Cheil Worldwide announced on the 7th that it has established a Maghreb corporation in the northwest region of Africa to expand its business in the emerging Middle East and Africa (MEA) market.

The Maghreb corporation in Casablanca, Morocco, is Cheil Worldwide's 10th MEA base. Since establishing its first MEA base in Dubai in 1996, Cheil Worldwide has expanded its presence to nine countries including T?rkiye, Saudi Arabia, Jordan, and Egypt. Following the establishment of its Egypt corporation in 2020, the company has now set up the Maghreb corporation, strengthening its network in the MENA (Middle East and North Africa) region.

Cheil Worldwide explained that it recently promoted the establishment of the corporation due to increasing advertiser demand for digital marketing directly linked to sales, such as direct-to-consumer (DTC) and performance marketing, in the Maghreb region. Although the advertising market size of the three Maghreb countries?Morocco, Algeria, and Tunisia?was relatively small at $2.2 billion (approximately 2.7676 trillion KRW) as of 2021, the digital advertising volume has been increasing along with the rise in internet users in the region, recording a high growth rate compared to the overall global advertising market.

The Maghreb corporation officially began operations last month. In the early stages of the corporation's establishment, business will focus on retail and digital services in the Moroccan region, with plans to expand services to Tunisia, Algeria, and other countries in the future.

Jung Yoo-seok, Senior Executive Director of Cheil Worldwide's MEA division, stated, "By collaborating across the entire MEA network, including the newly established Maghreb corporation, we plan to provide optimal digital solutions such as platforms, e-commerce, and digital media to existing advertisers and actively pursue the development of new advertisers."

Meanwhile, with the establishment of the Maghreb corporation, Cheil Worldwide's overseas network has expanded to 54 bases (corporations and branches) in 46 countries.