Samsung booth at the EuroCuchina 2024 (Courtesy of Samsung Electronics)
Samsung Electronics Co., South Korea’s most valuable company in terms of market capitalization, saw its brand value top $100 billion for the first time to retain the top 5 in Interbrand’s Best Global Brand rankings this year, while the country’s auto giant Hyundai Motor Co. ascended six notches to 30th from last year.
According to an annual report about the world’s top 100 valuable brands released by Interbrand, a leading global brand consultancy, on Thursday, Samsung Electronics’ brand value stands at $100.8 billion in 2024.
This is the first time the Korean tech giant’s brand value has ever exceeded $100 billion, a 62% increase over the past four years.
Samsung Electronics, the only Asian company in the top five club, remains the world’s fifth-valuable company for the fifth year in a row, according to the report.
Interbrand accolades Samsung Electronics’ aggressive artificial intelligence push led by its deployment of on-device AI technology in its key products, leadership in the semiconductor sector, consistent brand strategy in the global market and strong commitment to a sustainable future.
(Courtesy of Samsung Electronics)
The global brand consulting firm annually evaluates multinational companies to decide the rankings based on an analysis of the financial performance of the company, the influence of the brand on customer purchases and the brand’s competitiveness.
Samsung Electronics first joined the top 10 list in 2012 in ninth place and has managed to climb the chart each year until it reached fifth place in 2020.
Welcoming the result, Lee Young-hee, president and head of the Global Marketing Office at Samsung Electronics said, “Moving forward, we will lean even further into the qualities that our users have come to both love and expect.”
HYUNDAI MOTOR IS IN 30TH VERSUS 36TH
Hyundai Motor, which debuted on the chart in 2005, is the next most valuable Korean brand in the Interbrand rankings this year with a brand value of $23 billion, ranking 30th.
It is its second consecutive rise in the ranking, and its brand value has improved for the 14th year in a row. Over five years, the value increased by 63%.
(Courtesy of Hyundai Motor)
Interbrand attributes Hyundai Motor’s ascent to its reinforced competitiveness as a global top automaker with high-performing cars such as IONIQ 5N; increased brand influence with offshore research and development centers and manufacturing plants in diverse regions; and enhanced customer engagement initiatives through various sport and cultural sponsorship programs.
“Hyundai Motor will strengthen its position as a game changer by expanding beyond vehicle manufacturing to AAM and other forms of future mobility,” said Chang Jae-hoon, president and chief executive officer of Hyundai Motor Company.
Apple Inc. retains the top position in this year’s rankings but its brand value has dropped for the first time in over two decades by 3%.
Microsoft and Amazon follow Apple to make up the top three brands globally, while Google ranks No. 4.
Nvidia has joined the list for the first time as No. 36, while another Korean firm LG Electronics re-enters the rankings in 97th place.
By Chae-Yeon Kim and Jung-Eun Shin
why29@hankyung.com
Sookyung Seo edited this article.
