Global Broadcast of K-Sports Amid COVID-19... Shinhan and Hana Banks Hit the Jackpot in Sports Marketing

[Asia Economy Reporter Kwon Haeyoung] Shinhan Bank and Hana Bank are enjoying unexpected global marketing effects due to the aftermath of the novel coronavirus infection (COVID-19). As popular sports events in various countries were suspended or postponed, global broadcasters live-streamed the world's first spectator-free league, 'K-Sports.' Financial companies sponsoring professional baseball and professional soccer have widely promoted their brands worldwide.

According to the financial sector on the 18th, the opening game of the Korean professional baseball (KBO) 'NC VS Samsung,' broadcast on ESPN on the 5th (Eastern US time), had 173,468 live viewers (1 a.m.) and 103,155 replay viewers (3 p.m.), totaling 276,623 viewers.

Shinhan Bank has officially sponsored the Korean professional baseball 'KBO' since 2018. Especially, during the globally live-streamed games, the 'Shinhan Bank SOL KBO League' title emblem was frequently displayed, significantly boosting brand promotion. A Shinhan Bank official explained, "Since ESPN broadcasts one game live every day, the number of viewers is expected to increase steadily," adding, "The global marketing effect through Shinhan Bank brand exposure is also expected to be substantial."

The number of domestic viewers also increased significantly. Based on the KBO League opening week, domestic mobile viewers surged 349% from 340,326 in 2019 to 1,528,407 in 2020. Shinhan's professional baseball fixed deposit and installment savings products have also become popular. Products launched this year sold a total of 1.2 trillion KRW, with 38,155 fixed deposit accounts and 61,934 installment savings accounts as of the 4th.

Shinhan Bank spent 24 billion KRW on marketing after being selected as the official sponsor of the KBO League in 2018, averaging 8 billion KRW annually. The advertising effect estimated by Shinhan Financial through KBO League sponsorship amounts to about 240 billion KRW annually, which is 30 times the annual marketing cost. Shinhan Bank extended the KBO sponsorship contract by one year until 2021.

Earlier, Shinhan Bank hit a jackpot by appointing Park Hang-seo, the coach of the Vietnam national soccer team, as a promotional ambassador through its Vietnam branch in March 2018. The number of Shinhan Vietnam Bank customers increased from 1 million in March 2018 to 1.5 million by the end of 2019.

Hana Bank is also smiling thanks to overseas broadcasts of the Korean professional soccer 'K League.' 'Hana One Q K League' is streamed worldwide through official K League YouTube and Twitter channels in 36 countries, including the UK, Germany, Turkey, and Brazil. The cumulative number of viewers on YouTube and Twitter channels for the official opening game 'Suwon VS Jeonbuk' held on the 8th reached 3.6 million. The cumulative number of domestic portal visitors also exceeded 1 million.

The 'K League Chukdeok Card,' which offers discounts when purchasing K League game tickets, sold 201,140 cards as of the 13th. About 300 cards are steadily sold daily.

This content was produced with the assistance of AI translation services.