As the new year begins, domestic financial companies are changing their advertising models, showcasing new images that each group pursues. Generally, financial institutions, including commercial banks, enter into model contracts on an annual basis. This strategy aims to effectively communicate the direction and vision of corporations.
According to the financial sector on the 7th, Shinhan Bank revealed actor and singer Cha Eun-woo as its new brand advertising model. Following the end of its contract with the group NewJeans, the bank noted that this time it intends to convey the energy of growth and innovation with a male model. Shinhan Bank also released a video advertisement for the newly launched 'SOL gatherings savings account' with the concept of 'a good-looking meeting account' to match Cha Eun-woo's nickname of 'face genius.'
Hana Financial Group made headlines last month by selecting singer G-Dragon as its new advertising model. Hana Financial Group explained that G-Dragon's creative sense and distinctive music align with the corporation's vision of 'financial consolidation for all connected as one.' The company expects that the innovative financial platform being developed by Hana Financial and G-Dragon's unique image will create synergy.
Advertising models, representing financial companies, typically sign contracts on an annual basis. Given the rapidly changing characteristics of the financial environment, it is necessary for corporations to adjust their core messages accordingly. Financial institutions employ new models that align with trends to maintain a fresh image and respond immediately to changing consumer demands.
Additionally, there is often the potential for controversies, such as issues regarding privacy, when appointing famous personalities like celebrities or sports stars as models. If problems arise during a long-term contract, it can negatively impact the brand's image. As a result, most financial institutions adopt a strategy of annual contracts to minimize risks.
However, if a financial institution sees an increase in brand image or advertising effectiveness due to an advertising model, they may seek to re-contract with the same model. KB Kookmin Bank announced on the 3rd that it has renewed its advertising model contract with the girl group Espa. Espa, which has been active as KB Kookmin Bank's model since 2021, will continue its activities for the fifth year with this contract.
MG Saemaul Geumgo extended its advertising model contract with actor Namgoong Min last month. Namgoong Min has been the exclusive model for MG Saemaul Geumgo since September 2023. His calm and trustworthy image has been evaluated to significantly contribute to enhancing the brand's reliability and image.
A financial sector official noted, 'At the beginning of the new year, financial companies face the advertising model re-contracting season and put much thought into selecting models that can effectively convey the messages the corporations aim to pursue.' The official added, 'By seeing who is chosen as a model, one can understand each company's vision, which can also be a point of interest for consumers.'