Atlético Madrid has strengthened its commercial push in Asia by appointing Sangwon Seo as head of business development for Asia, bringing in an executive with more than nine years of experience at LaLiga’s South Korean office.
Seo spent nine years working in LaLiga’s International Business division in South Korea. He announced the move on LinkedIn, saying he would continue his career at Atlético Madrid after more than nine years working within LaLiga.
Before joining LaLiga in 2017, Seo worked for Euro Management Group, an international football representation and intermediary agency, where he spent around five years working with the South Korean market. He also completed training with LaLiga Global Network and previously worked with the South Korean futsal national team and as an interpreter for the coordinator of FC Barcelona Escola in South Korea.
South Korea at the centre of Atlético’s Asian strategy
Seo’s appointment comes as Atlético Madrid looks to expand its commercial presence across Asia, with South Korea emerging as a key market.
The Madrid club travelled to South Korea during its 2026 pre-season, playing three matches in the country. The arrival of South Korean forward Kang-in Lee from Paris Saint-Germain during the summer transfer window has also increased interest in the club in the country.
The combination of Lee’s profile, Atlético’s pre-season presence in Seoul and the appointment of a local market specialist points to an effort to convert the club’s growing visibility in South Korea into commercial opportunities.
A new approach after the Wanda era
Atlético previously developed a significant commercial presence in Asia through its relationship with Chinese conglomerate Wanda Group.
Wanda acquired a 20% stake in Atlético in 2015 through a €45 million capital increase, before selling its holding in 2018. The Chinese group also held the naming rights to Atlético’s stadium between 2018 and 2022.
During that period, Atlético opened two commercial offices in China as it sought to attract sponsors and develop business opportunities across Asia.
The club is now pursuing its Asian strategy under a different ownership structure. Apollo Sports Capital became Atlético’s majority shareholder in November 2025, followed by a €101 million capital increase.
Commercial revenue becomes increasingly important
Atlético’s renewed focus on Asia comes as commercial activities become an increasingly important part of the club’s revenue strategy.
The club generated a record €416 million in revenue in the 2024-25 season, up 5.3% year on year. Commercial revenue was one of the main drivers of that growth, rising 22% to €109.5 million.
Atlético signed 24 strategic agreements during the period, including 17 new partnerships. The combined long-term contractual value of those agreements exceeded €565 million.
Against that backdrop, Seo’s appointment gives Atlético a dedicated executive focused on developing business opportunities across Asia, including sponsorships, commercial partnerships and fan engagement.
The move highlights the club’s broader strategy of turning international brand growth into new revenue streams, with Asia — and particularly South Korea — positioned as an increasingly important market in that expansion.