Korea's national brand power was ranked the 10th largest in the world in a survey by the Institute for Industrial Policy Studies released on Thursday.

The Korean institute valued the power of the nation's products and services sold abroad at US$1.1 trillion.

First place among the 40 nations surveyed went to the U.S. with brand power of $10.4 trillion, followed by Germany ($6.5 trillion), the U.K. ($3.4 trillion), and Japan ($3 trillion). China moved up a notch from last year to sixth place with $1.88 trillion.

Samsung Electronics topped the list of domestic companies for the last 10 years with its brand valued at $20 trillion. Hyundai Motor and LG Electronics followed with $8.2 trillion and $7.2 trillion, respectively.