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Korea's national brand value is ranked 10 in the world, with its worth estimated at more than US$1 trillion. This is the result of an annual survey by the Institute for Industrial Policy Studies in Korea.
The survey takes into account three years of goods and services exports, national competitiveness studies and the degree of familiarity people have with the 40 countries in the survey.
The U.S. topped the list with its national brand valued at more than $9 trillion, followed by Germany, the U.K. and Japan. Korea is right behind the Netherlands and just ahead of Spain and Switzerland.
The state-run institute also ranked local companies' brand values surveying their product quality, recognition levels and brand images. Samsung Electronics maintained its top place for the ninth consecutive year with its brand worth weighed at W11.6 trillion (US$1=W1,473). Hyundai Motor came second with a brand worth W5 trillion and LG Electronics third at W4.3 trillion.
Releasing the results, the institute called for a better strategy to improve Korea's image in different regions of the world pointing out that Asians' familiarity with Korea was far higher than Europeans'.
Arirang News
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