Actor Jung Woo-sung (52) has been chosen as an advertising model for the first time in three years. According to a report by Hankyung.com on the 4th, Jung Woo-sung completed filming an advertisement for Bithumb the day before, alongside actress Jeon Jong-seo. This is his first advertising model contract since early 2022, when he worked with NHN Hangame.
Last year, Jung Woo-sung became the center of controversy when it was revealed that he was the biological father of a son born to model Moon Ga-bi (36). Despite achieving a milestone of 10 million viewers with the film ‘Spring of Seoul’ (directed by Kim Sung-su), it was noted that he did not pursue any advertising contracts subsequently. This led to speculation about whether he had been managing risks proactively due to the controversy.
However, his agency, Artist Company, clarified that the claims of him avoiding ad shoots due to the scandal were “completely untrue.” They explained that he simply didn’t re-sign any contracts after their expiration, and his busy schedule left him no time for ad shoots.
Last month, Jung Woo-sung legally married a woman he had been in a long-term relationship with, known to be a non-celebrity he had dated for over a decade. Her relationship with Jung Woo-sung is well-known among close acquaintances, comparable to the “Cheongdam couple,” actor Lee Jung-jae and his girlfriend, Im Se-ryeong, vice-chairman of Daesang Group.
Some believe that Jung Woo-sung’s return to advertising signals that he is ready to move past any previous risks and is gearing up for more activities.
Bithumb, the cryptocurrency exchange for which Jung Woo-sung has become a model, spent 9.6 billion KRW on advertising in the first quarter of the year alone, a significant increase from 1.9 billion KRW in the same period last year. Their marketing budget in the first quarter was 35 billion KRW, rising to 58 billion KRW in the second quarter.
Bithumb is reported to have spent approximately 200 billion KRW on marketing over the entire last year, a figure more than 12 times that of 16.1 billion KRW in 2023. As they prepare for a KOSDAQ listing next April, they are making significant efforts in advertising and marketing to secure market share.
Their aggressive marketing strategies have led to an increase in market share. Bithumb’s share of the domestic market was in the early 10% range at the start of 2023 but surpassed 36% at one point last January, stabilizing at an average of around 25%. While the leading cryptocurrency exchange Upbit maintains a 70–73% market share, Bithumb continues to solidify its position as the clear number two, reinforcing the two-stronghold structure in the exchange market.