Baseball Is Key to Raising US Profile for Korea’s Doosan – Bloomberg
Doosan Group, the oldest business organization in South Korea, is looking to raise its profile in the U.S. To do so, the Seoul-based conglomerate is teaming up with ‘America’s Pastime.’
For the next four years, Doosan will advertise throughout the Major League Baseball playoffs, put up signs in MLB stadiums, and sponsor baseball’s live Facebook content. It will also be the presenting sponsor of the American League Divisional Series, the first time baseball has sold a first-round playoff series.
“Any place you see the games, you’re going to see them,” said Noah Garden, baseball’s executive vice president of business.
By sponsoring Major League Baseball, Doosan will get access to a wide swath of North America. The sport claims over 113 million adult fans and is by far the most attended league in the U.S. Most importantly, it is popular in rural parts of the country — especially in the midwest and the south — where Doosan sells things like forklifts, excavators, steel moldings, diesel engines and generators.
Doosan entered the North American market in 2007, when it purchased farm and construction outfitter Bobcat and other Ingersoll-Rand Co. equipment units for $4.9 billion, at the time the biggest overseas acquisition ever for a South Korean company.
Last year about 21 percent of the conglomerate’s $14 billion in global revenue came from the U.S., a share Doosan is looking to grow. “For Bobcat, we are well established here already,” said Rich Goldsbury, President of Doosan Bobcat North America and Oceania. “For the Doosan brand, heavy construction equipment and fuel cells are a growth engine for us, so growth rates in those areas might be far higher if we find the right brand presence and brand recognition.”
Doosan has used sports sponsorships in other countries to drive brand awareness. It owns the Doosan Bears, a Seoul-based professional baseball team, and has partnered with golf’s British Open since 2010. The company also sponsors FC Viktoria Plzen, a soccer club based in the Czech Republic.
— With assistance by Kyunghee Park