Over the past decades, public transportation advertising has emerged as an important research topic in the area of out-of-home(OOH) advertising. Especially, bus exterior advertising is an important emerging and fast growing area of marketing and advertising communications in Seoul, Korea which has high traffic and pedestrian densities, but the significant amounts of marketing expenditure being spent on this medium make investigating and optimizing its effectiveness crucially important. To investigate these issues from a consumer point of view, we use personal interviews with 800 Seoul people over a period of seven days in order to examine how consumers perceive and evaluate bus exterior advertising and identify any factors that have improved and deteriorated consumers’ perceptions and evaluations of bus exterior advertising in comparison to different advertising media including both traditional and non-traditional (emerging) media. Results indicate that exposure to bus exterior advertisements is high followed by television, the Internet, mobile and is superior to other OOH advertising media in their everyday lives. It is also found that both bus users and pedestrians are highly exposed to bus exterior advertisements alike. With respect to the effectiveness of advertising media, bus exterior advertising is perceived to be more effective among the consumers, based on their related attitudes and judgments, than are traditional media (TV, newspaper, radio, and magazine) and other OOH advertising media. Managerial and policy implications reflecting these results are drawn in conjunction with directions for future research.