Cheil Worldwide takes over leading Chinese ad agency

The leading Korean advertising agency Cheil Worldwide announced Monday that it has acquired Bravo Asia, a Chinese advertising agency, following Cheil`s takeover of McKinney of the U.S. last month.

Cheil plans to target the U.S., the world’s largest advertising market, and China, which is showing rapid growth. In addition, the Korean company took over the U.K.-based BMB in 2008 and two digital advertising companies, TBM of the U.S. and OTC of China, in 2009.

Bravo Asia was established in 2006 and based in Shanghai and Hong Kong. It promotes Porsche, Hennessy, AIA Life, Hutchison (telecommunications), Minute Maid and New Balance. Bravo CEO Aaron Lau, 52, served as a director of DDB Worldwide, a global advertising agency.