The 2010 World Cup has stirred up not only the hearts of global soccer fans… but also financial gains brought in by the global event.

Korean private economy research agency, Hyundai Research Institute or HRI says the estimated economic effect of Korea getting into the Round of 16 is 4.3 trillion won, or nearly 3.6 billion US dollars.

In addition, the feverish excitement enjoyed by millions of Koreans coming out to street rallies could directly bolster domestic consumption… which benefits the national GDP, leading to an estimated economic value of roughly 1.1 million dollars.

However, the 2010 World Cup’s benefits don’t just stop there for Korea. As one of 16 countries to compete in the knock-out round… Korea is highly likely to receive favorable opinions from global viewers as the global soccer event continues.

HRI says an intangible asset of the national brand is beyond economic value, but if converted into a financial figure Korea’s brand image marketing could be worth about 1.5 billion dollars.

The World Cup is a battleground not only for players but also for international corporations which aim to promote their brand images. According to HRI, it cost roughly 100 million dollars for firms to raise the corporate awareness of global consumers by only 1 percent.

For instance, Korean auto giant Hyundai Motor and its affiliate Kia Motors are official FIFA partners. They have invested roughly 500 million dollars in this year’s World Cup.

The market value of the Korean automakers is estimated to be more than 10 billion dollars and their market share has already risen by 1.4 percent in Europe during the World Cup period.

However, getting into the Round of 16, has not only elevated the image of the country and its 100 Korean firms participating as World Cup advertisers but also has boosted Koreans’ pride and their morale which are beyond financial value.

This article was first published by Yang Ji-woo on Arirang News.

Related Articles

1. The World Cup and South Africa’s wine industry Starting on June 11, the FIFA World Cup football tournament has finally arrived in South Africa. In our last feature on the biggest sporting event...
2. South African Airways and beer companies biggest beneficiaries of World Cup sponsorship so far in the UK South African Airways was the brand that benefited most its sponsorship of the Fifa Football World Cup last week. UK Internet searches for the South...
3. Manchester City’s social media round-up Manchester City's website features a new social media round-up which highlights the pick of the fan produced content on the official MCFC's social sites such...