Korean companies such as Samsung Electronics, Hyundai Motors, and Kia Motors have significantly increased in brand value.
According to the 2013 best global brands report released by the world’s leading brand consulting group Interbrand, two Korean companies currently rank among the world's top 50. For 2012-2013, Samsung moved up one spot to 8th, while Hyundai’s ranking edged up by ten places to be 43rd. Last year, only Samsung was in the top 50, but Hyundai is a new entrant this year.
Samsung’s brand value is US$39.6 billion, a year-on-year increase of 20%. The rise is attributable to its innovative products, including Galaxy S4 and Galaxy Note 2, together with aggressive investment in marketing.
Hyundai’s brand equity is US$9 billion, up 20% from a year ago. Kia, on the other hand, grew 15% year-on-year to reach US$4.7 billion in brand value. Kia Motors’ ranking went up by four notches to 83rd place.
The results are especially encouraging for Hyundai Motors, since it entered the top 50 this year for the first time. Its brand value in 2013 is a 160% gain compared to US$3.5 billion in 2005. In addition, its ranking moved up 41 places in 2005-2013, becoming one of the fastest growing brands in the world. In the ranking of car brands, Hyundai maintains 7th place in 2013, after beating Audi for the first time in 2012.
This year, Apple ranks top with US$98.3 billion in brand value, becoming the first brand to ever unseat Coca-Cola.