Korea’s brand value has increased by 19.6 percent, according to this year’s final nation brand report by Brand Finance, an independent intangible asset valuation consultancy based in London. Overall, Korea ranks 16th, the same ranking it received last year.
The U.S. ranked first place overall, while Germany ranked second and China third.
The report assigns a rating between AAA (very strong) to DDD (failing) to each nation brand, in a format similar to a credit rating report. The organization uses a combination of government statistics, consensus forecasts, and analyst projections to arrive at an overall brand rating in letter grades. Korea received AA-, the same grade it received last year.
Korea’s brand value, however, rose to $605 billion from last year’s $506 billion, a 19.6 percent increase. “Korea’s brand increased in value in 2011 as its technological prowess and addictive popular culture spreads across East Asia,” the report said.
In an article titled “Beyond the BRICS: The New Emerging Markets,” the annual report also mentions Korea as one of the positive emerging nation brands.
“Forty years ago GNP per capita was comparable with the poorest African countries; now Korea is one of the richest countries in the world,” it said. “The rise of Samsung mirrors the trajectory of a hyper-technological nation that promised in 2006 to put ‘a robot in every home.’”
Founded in 1996, Brand Finance has been advising branded organizations on how to maximize the value of their brands and intangible assets. Its clients include international brand owners, tax authorities, intellectual property lawyers and investment banks.
By Claire Lee (email@example.com)