SEOUL, Jan. 22 (Korea Bizwire) — South Korean products are competitive in design and prices, but still lag behind advanced economies in technology and brand image, a survey showed Monday.
In Vietnam, South Korean products have better brand images than those of Chinese goods, according to a survey of 1,200 consumers in the United States, China and Vietnam, conducted by the Korea Federation of Small and Medium Business from Dec. 7-15 last year.
In the U.S., the brand power of South Korean goods was equal to that of Chinese products.
In terms of price competitiveness in the U.S., respondents reported 36 percent satisfaction with South Korean goods, compared with 55 percent for Chinese products.
In China, South Korean products were less competitive than Chinese goods in prices, brand images and technology.
Most Chinese consumers described South Korean electronics goods as reliable.
The most popular South Korean items in China and Vietnam were foods and cosmetics.
Culture and tradition were the images Americans had about South Korea, while Chinese and Vietnamese pinpointed entertainment as the image of South Korea.
“It is necessary for South Korea to approach consumers abroad in an emotional manner by establishing a clear national image and related brand,” said Lee Won-seop, an official of the federation.