RETURN OF RUBBER DUCK

[Anchor Lead]

Rubber Duck has returned to Korea again in eight years. Business in nearby commercial districts are enjoying a boom thanks to the giant duck installed at Seokchon Lake in Seoul.

[Pkg]

A giant rubber duck is floating around on a lake. The rubber duck is an artwork created by a foreign artist which was installed at this very spot eight years ago. The rubber duck has returned to offer small comfort to those fatigued by the prolonged COVID-19 pandemic.

[Soundbite] Kim Ji-hoon(Seoul Resident) : "With the beautiful weather, we came out to see it on a date."

Since its return late last month, the installment has attracted over five million people in less than a month. Nearby commercial districts are enjoying an unexpected business boom, thanks to the rubber duck. A nearby cafe has seen its sales increase by ten percent.

[Soundbite] Kim Jin-joo(Coffee Shop Owner) : "It’s usually not this crowded but the area is crowded on weekends. I added Rubber Duck-themed drinks to the menu."

This is an external effect, which refers to unexpected benefits an economic act brings about.

[Soundbite] Kwak Do-young(Lotte Property and Development) : "Previously, the Rubber Duck exhibition increased sales by 15% in the District. We plan to hold various events and public art exhibitions to help neighboring commercial District."

An increasing number of companies are taking advantage of these external effects. This department store is preparing to relaunch screening videos on its outer walls this winter, due to its popularity.

[Soundbite] Yoon Ji-sang(Shinsegae Department Store) : "Those depressed amid COVID-19 have gotten small consolation through our videos and showed great interest."

Companies are converting to in-person marketing campaigns from those that were staged online during the pandemic.

[Soundbite] Prof. Sung Tae-yoon(Yonsei Univ.) : "With the pandemic alleviated, the key to creating external effects is whether or not they can suit tastes and draw attention of people."

Economic activities utilizing external effects are growing popular again to attract customers's attention.