South Korea's leading brands have shown steady growth despite the pandemic crisis over the past two years. Interbrand, the world's largest brand consulting group, announced the strategy of "The Power to Delve into the Essence of HUMAN" along with the top 50 representative Korean brands through the 10th "Best Korea Brands 2022" (hereinafter referred to as "Best Korea Brands 2022").
The total value of the 2022 Interbrand Best Korea Brands reached KRW 180.4735 trillion, marking a 13.6% increase compared to the previous year. Despite the prolonged economic downturn caused by the pandemic, brands sought breakthroughs by adopting new paradigms and pursuing sustainable management, creating new market rules and driving growth.
The top two brands in the 2022 Best Korea Brands ranking were Samsung Electronics and Hyundai Motor Company. Samsung Electronics (1st place) recorded a brand value of KRW 85.1497 trillion, growing 23.1% year-over-year, while Hyundai Motor Company (2nd place) achieved a brand value of KRW 17.3044 trillion, up 9.1% from the previous year. Following them were Naver (3rd place, KRW 7.0223 trillion), Kia (4th place, KRW 6.9443 trillion), and SK Telecom (5th place, KRW 3.5175 trillion). The combined value of these top five brands totaled approximately KRW 119.9 trillion, accounting for about 66.5% of the total value of the top 50 brands.
Brands that showed high growth rates in 2022 delivered differentiated customer experiences and achieved remarkable results. Kakao (7th place) recorded a brand value of KRW 3.4166 trillion, a 34% increase from the previous year, marking the largest growth rate increase for three consecutive years. Samsung Electronics (1st place) followed with a 23.1% growth rate, reaching KRW 85.1497 trillion, becoming the brand with the highest brand value growth rate in the past decade. HYBE (39th place), which achieved its highest performance since its founding last year, also saw a 15.1% increase in brand value to KRW 592 billion, rising three places from 42nd to 39th.
Additionally, Yanolja (49th place / KRW 377.9 billion) and Lotte Chemical (50th place / KRW 362.5 billion) newly entered the Top 50. These companies were highly evaluated for their rapid response to changing market conditions such as the pandemic and the Fourth Industrial Revolution, based on clear visions, and for continuing their growth by expanding their businesses.
Interbrand explained that what Korean brands need most to lead new changes after COVID-19 is research and reflection on humans who delve into the essence of brands and business. To explore this essence, they proposed three approaches: ▲ "Human Truth," cultivating insight into human nature; ▲ "Human Heartbeat," providing customers with thrilling experiences; and ▲ "Human Connection," deeply empathizing and forming bonds with consumers.
Moon Ji-hoon, CEO of Interbrand Korea, stated, "Through the 2022 Best Korea Brands, we confirmed that brands that offered differentiated customer experiences through deep understanding of humans and bold challenges led growth in each industry. The era when producing high-quality products alone was important is over. Brands that provide thrilling experiences and deep empathy to customers based on profound understanding of humans will become leading brands driving future changes."
Detailed information and rankings for the 2022 Best Korea Brands can be found on the official Interbrand Seoul website.
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