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Institute appraises national brand at $1.14 trillion
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November 27, 2009
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Korea’s national brand power ranked 10th in the world this year as based on products and services sold abroad, number of inbound tourists and results of familiarity polls, a state-run think tank said yesterday.
The Korea Institute for Industrial Economics and Trade said at the 2009 Korea Brand Conference in Seoul that the value of the country’s brand power was calculated at $1.14 trillion for 2009. This marks the third year in a row that the country has ranked 10th among the 40 countries surveyed, according to the institute. The total represents the second straight year Korea’s brand value has exceeded $1 trillion.
KIET’s Institute of Industrial Policy Studies report said the United States remained at the top of the ladder with a brand power rated at $10.37 trillion, followed by Germany, Britain, Japan and France. Other countries that scored above Korea were China, Canada, Italy and the Netherlands.
Japan’s brand value stood at $2.85 trillion, while China’s reached $2.12 trillion. Among local companies, Samsung Electronics Co. maintained the top slot with its name value totaling 20.05 trillion won ($17.38 billion). The world’s largest memory chipmaker and second-largest mobile phone maker has led the pack for the past nine years. Hyundai Motor Co. was second at 8.23 trillion won, with LG Electronics third at 7.18 trillion won. Kia Motor Corp. and GS Caltex Corp. filled out the top five.
The institute said Samsung’s value came from its wide name recognition and efforts to broaden its product portfolio and market share amid an economic downturn. Local companies that led specific business sectors included Shinhan Bank, Samsung Life Insurance, Lotte Department Store, E-Mart and NHN Corp. Yonhap
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