What makes most companies advertise is quite interesting and practical question. In this paper, we made an intensive investigation on determinants of the company's advertisement. In order to increase accuracy, we did use advertising expenses per sales as a dependent variable. Business activity survey data were taken from the National Statistical Office to study the effects. The firm-level data were made through surveying all companies with more than 50 employees and 300 million won capital. As the analytical methods, we employed the Tobit model considering the characteristics of weight on advertising expense. The empirical results showed that Franchise companies expend higher advertising expenses per sales than non-Franchise companies. In addition, companies tend to advertise extensively when they think that consumers do not have essential information about their products. Finally, in the case of non-manufacturing industries, Herfindhal-Hirschman Index(HHI) is statistically significant. It means that companies usually put a large number of advertisement in market when they stand between perfect competitive market and monopoly market.