Interbrand Best Korea Brands 2024 (Image courtesy of Interbrand)
SEOUL, May 24 (Korea Bizwire) – Samsung Electronics retained its status as South Korea’s most valuable brand, its worth approaching 109 trillion won, as the nation’s marquee corporate names recorded robust brand value growth, according to a respected annual ranking.
Interbrand, the global brand consultancy, unveiled its “Best Korea Brands 2024″ report on May 23, showing the combined brand value of the country’s top 50 brands jumped 6.6% from a year earlier to 214.1 trillion won.
“Despite continued economic malaise and intensifying competition across industries, Korean brands actively responded to changes and seized opportunities, achieving notable growth,” Interbrand said.
Samsung’s brand value climbed 6.9% year-over-year to 109.1 trillion won, solidifying its No. 1 position. Hyundai Motor took second with a 20.9% surge to 24.4 trillion won, while sibling Kia ranked third after a 9.5% increase to 8.4 trillion won.
Naver maintained fourth place with a 7% rise to 7.2 trillion won. LG Electronics vaulted from sixth to fifth, its brand value soaring 54.5% to 5.6 trillion won.
The top five brands accounted for 72.2% of the overall value at 154.7 trillion won.
Among higher-ranking names, e-commerce giant Coupang (No. 11 at 2.7 trillion won) and internet-only lenders Kakao Bank (No. 39 at 591.4 billion won) and LG Energy Solution (No. 43 at 546.9 billion won) posted double-digit percentage gains.
New entrants to the top 50 were beauty retailer CJ Olive Young (No. 33 at 723 billion won), discount chain Asung Daiso (No. 49 at 411.7 billion won) and LG Innotek (No. 50 at 405.6 billion won).
“Efforts to swiftly adapt to changing markets, offer new brand experiences and actively prepare for the future stood out,” Interbrand said.
The consultancy evaluates global brands annually, ranking the top 100 by financial metrics to determine its “Best Global Brands” list, an influential benchmark for branding and marketing. Interbrand Seoul has applied the same criteria to select “Best Korea Brands” yearly since 2013.
Kevin Lee (kevinlee@koreabizwire.com)
