• Naver nets the top spot as the strongest South Korean brand ranked
• Cantata brews success, with brand value almost doubling to $869 million
• Samsung Group has the highest Sustainability Perceptions Value of $6.7 billion and the highest positive gap value of $203 million
London –– Samsung(brand value down 1% to USD 82.2 billion), continues to hold the title of South Korea’s most valuable brand ranked this year, according to a new report by Brand Finance, the world’s leading brand valuation consultancy, announced on September 26th.
According to Brand Finance’s market research, Samsung’s success is driven by its strong consumer loyalty, high awareness, and market leadership. Its robust domestic presence, combined with innovative product offerings, ensures the brand retains its spot firmly at the top among South Korean brands ranked.
Despite a 27% drop in brand value to USD3.3 billion, Naver remains South Korea’s strongest brand ranked, thanks to high scores in key metrics including ‘awareness’, ‘familiarity’, and ‘usage’, with a Brand Strength Index(BSI) score of 90.67 of 100.
Naver’s innovative product offerings, such as the NAVER Shopping Live platform and its partnership with Samsung Pay, continue to reinforce the brand’s leadership position in the market.
Meanwhile, Cantata, Korea’s first premium canned coffee brand, saw its brand value soar by 91% to USD869million this year. Strong financial results and excellent scores in metrics such as ‘familiarity’ and ‘reputation’ have supported Cantata to be recognized as South Korea’s fastest-growing brand of 2024.
Brand Finance’s South Korea 150 2024 report also reflects significant growth in the value of the country’s leading retail brands, with eight out of 11 retail brands ranked achieving double-digit increases. Collectively, the retail brands in this year’s ranking are worth USD17.7 billion, representing the fifth largest sector.
Coupang (brand value up 12% to USD7.2 billion), leads as the most valuable South Korean retail brand, supported by its strong brand perception and market dominance.
In 2023, for the first time, online e-commerce platforms accounted for over half of South Korea’s total retail sales, reflecting the growing trend towards convenience-focused, digital shopping experiences. The nation’s high smartphone usage and advanced logistics continue to support innovations in the retail segment led by platforms such as Naver Shopping Live and Kakao Shopping Live.
Alex Haigh, Managing Director – Asia Pacific of Brand Finance, commented, “Hyundai and Kia are leading the charge in the automobile industry with strong growth and global expansion in the electric vehicle market, while the logistics sector, exemplified by CJ Logistics, is embracing cutting-edge technology to enhance operational efficiency. This year’s rankings highlight the adaptability of South Korean brands as they set new standards in both local and global markets.”
Brand Finance also utilizes its Global Brand Equity Monitor (GBEM) research to compile a Sustainability Perceptions Index. The study determines the role of sustainability in driving brand consideration across sectors and offers insight into which brands global consumers believe to be most committed to sustainability.
For individual brands, the Index displays the proportion of brand value attributable to sustainability perceptions. This Sustainability Perceptions Value is the financial value contingent on a brand’s reputation for acting sustainably. From here, Brand Finance’s perceptual research is analyzed alongside CSRHub’s environmental, social and governance performance data to determine a brand’s ‘gap value’. This is the value at risk or to be gained, based on the difference between sustainability perceptions and actual performance.
The 2024 Sustainability Perceptions Index finds that among South Korean brands, Samsung Group has the highest Sustainability Perceptions Value of USD6.7 billion and the highest positive gap value of USD203 million.
