Korea’s Top 50 Brand Value: KRW 180 trillion, up 54.3% over 8 years
Best Korea Brands 2022: Diving into Human Essence
Future-leading brand conditions include understanding of human needs…
Announcement of ” Diving into Human Essence”
Seoul, (June 30, 2022) – Korea’s leading brands have grown steadily over the last two years despite the Covid-19 pandemic, the report showed. Interbrand, the world’s largest brand consulting group, announced its “Diving into Human Essence” strategy with Korea’s top 50 brands through the 10th “Best Korea Brands 2022.”
In 2022, the total value of the Interbrand’s Best Korea Brands was KRW 180.4735 trillion, up 13.6% from last year. Despite the prolonged economic downturn caused by the pandemic, Korean brands saw success as a result of efforts to find breakthroughs, create new market laws, and grow by pursuing sustainable management.
Samsung Electronics-Hyundai Motor Company-Naver-Kia Corporation-SK Telecom Top 5 Best Korean Brands in 2022
Samsung Electronics and Hyundai Motor Company ranked first and second among the Best Korea Brands 2022. The brand value of Samsung Electronics (#1) increased 23.1% year on year to KRW 85.1497 trillion, while Hyundai Motor Company (#2) recorded a brand value of KRW 17.3044 trillion, up 9.1% year-on-year. Naver’s brand value, which rose to third place, rose 8.5 percent to KRW 7.0223 trillion. Following this, Kia (#4) grew 7.0 percent to KRW 6.9443 trillion, while SK Telecom (#5) achieved KRW 3.5175 trillion, up 0.3 percent from 2021. The value of these top five brands totaled KRW 119.9 trillion, accounting for about 66.5% of the total value of the top 50 brands.
Top 10 brands, accelerate customized services and focus on technology for humans
It is noteworthy that the top 10 Best Korea Brands are taking steps centered on “Humans.” They provide personalized customer experiences that suit consumers’ tastes, personalities, and lifestyles, and strive to promote innovation and convenience for humans through “Technology for Humanity.”
Samsung Electronics (#1) is actively expanding BESPOKE to provide personalized service experiences that satisfy the various lifestyles of consumers, while also operating Galaxy upcycling programs to create technological innovation for humanity. Hyundai Motor Company (#2) declared a robotics vision to expand human mobility experience areas and provide freedom of movement based on “meta mobility” and “intelligent robotics” technologies through CES 2022, and Naver (#3) is striving to create a win-win ecosystem where various partners can grow together as a platform. LG Electronics (#6) introduced upgradable home appliances that evolve through continuous upgrades for the first time in the industry in a paradigm shift for the home appliance market.
Brand’s core competency to lead the future, “Diving into Human Essence” strategy announced
Interbrand focused on the growing phenomenon of a “me-centered” society that values my identity, value, and experience the most. The “me” that we talk about here is not a meaning based on individual selfishness, but rather a desire to think about what the “best choice for me” is, and to make the world a little better through the life I want. In this era, brands encourage people’s choices and behavior, and stronger brands bring together behaviors to lead to new changes.
“We were able to confirm that brands that provided differentiated customer experiences through deep understanding and bold challenges of humans in 2022 led the growth of each industry,” commented Jihun Moon, CEO, Interbrand Seoul. “As the days have passed when only producing high-quality products have been important, brands that provide customers with heart-throbbing experiences and deep communication based on a deep understanding of humans can become leading brands in the future.”
Interbrand has been a world leading brand consultancy, for over 45 years – having pioneered iconic work and forged many of the brand building tools that are commonplace across the industry today.
At Interbrand, we know that in an age of unprecedented abundance of choice and speed of innovation, customers’ expectations are moving faster than business. While incremental change is still essential, it is no longer sufficient. It takes bold moves to leap ahead of customers and competitors. We call these moves Iconic Moves.
In collaboration with the world’s leading brands, our global team of thinkers and makers are pioneering the future of brand building. By turning customers into active participants, we help our clients strengthen their brands on an ongoing basis – our approach gives them confidence to make Iconic Moves that spark desire and create utility, driving extraordinary results.
Interbrand is a part of Omnicom’s Brand Consulting Group, which sits within the Communications Consulting Network.
Group is made up of Interbrand, the world-leading brand consultancy, and C Space, the global customer agency.
Interbrand has been the world-leading brand consultancy, for over 45 years – having pioneered iconic work and forged many of the brand-building tools that are commonplace across the industry today.
We know that in an age of unprecedented choice and speed of innovation, customer expectations are moving faster than business. While incremental change is still essential, it is no longer sufficient. It takes bold moves to leap ahead of customers and competitors. We call these moves Iconic Moves.
In collaboration with the world’s leading brands, our global team of thinkers and makers are pioneering the future of brand building. By turning customers into active participants, we help our clients strengthen their brands on an ongoing basis – our approach gives them the confidence to make Iconic Moves that spark desire and create utility, driving extraordinary results.
Interbrand is a part of the Omnicom Group (NYSE:OMC). For more information, please visit www.interbrand.com.