SEOUL, Apr. 2 (Korea Bizwire) – GM Korea’s brand value has taken a hit amid a plant shutdown and labor-management conflicts, with its Chevrolet Spark and Malibu models slipping in the rankings.
According to data released by Brandstock on Sunday, the Chevrolet Spark failed to rank in the top 100 most valuable brands in the South Korean market during the first quarter of this year, despite having ranked 57th last year.
The Malibu, which surpassed the Hyundai Sonata and became the most valuable midsize car in the country last year, slipped five places to 85th.
In the meantime, Hyundai cars jumped in brand value, with the Grandeur up by 32 spots, and Sonata by 29 spots, helping the South Korean carmaker take back its position as the most valuable carmaker this year.
Toyota’s premium brand Lexus has made its way back into the top 100 eight years after a major recall in 2010.
Outside the automotive industry, Samsung was named the most valuable brand in South Korea, after heading the rankings for the seventhconsecutive year, followed by the retail giant E-Mart.
Kakao Talk was up one place to third, while Incheon Airport, which has recently opened a new terminal, ranked fourth.
KB Bank retained its fifth position from the previous quarter, while Naver slipped three places to sixth.
Some of the newcomers to the list included K Bank, LG TV, Korail, Pigeon, Xi, and Hankook Tire.
While internet-only banks fared well, convenience stores and franchise brands saw their values drop in general as a result of this year’s increased minimum wage.
7-Eleven was down 16 places to 80th, while CU ranked 90th. Food franchises Paris Baguette, Lotteria, and McDonald’s also fell in value.
The 100 most valuable brands are chosen based on brand stock top index (BSTI) points, a brand value evaluation model that takes into consideration stock prices, brand awareness and credibility.
Hyunsu Yim (email@example.com)