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Samsung's Galaxy most valuable brand in S. Korea: research
By YonhapPublished : Dec. 3, 2017 - 09:37
Samsung Electronics Co.'s Galaxy smartphone brand stood as South Korea's most valuable brand for the seventh consecutive year in 2017, an industry report showed Sunday.
According to the research conducted by industry tracker Brand Stock on the country's major brands, Samsung Galaxy earned the highest evaluation on the list, maintaining its No. 1 position since 2011.
Samsung Galaxy's performance is significant as the suspended production of the Galaxy Note 7 smartphone in 2016 due to faulty batteries was anticipated to deal a harsh blow to the brand.
Brand Stock said Samsung Galaxy maintained dominance through top-notch hardware, saying the market's expectations over the presumed Galaxy S9 smartphone anticipated to be showcased early next year also stands high.
In second place was E-Mart, South Korea's largest discount chain operated by Shinsegae, followed by top portal Naver.
Shin Ramyun, one of the country's most consumed instant noodle, was ranked in eighth place. US tech giant Google Inc. placed 10th in terms of its brand value in South Korea.
Kakao Talk, the most widely used mobile messenger app in South Korea, along with KB Kookmin Bank and Incheon International Airport, all made the top 10 list.
Other brands relying heavily on the Chinese market lost ground due to the diplomatic tension between Seoul and Beijing.
China earlier rolled out economic retaliations against local firms as South Korea deployed a US missile defense system on its soil, which Beijing claims to be a potential threat. The move was lifted partially recently.
Hanatour, a leading tour agency brand, moved four notches down to 24th place. Cosmetics brand Sulwhasoo also slipped four places to 28th place.
Hyundai Motor Co., which also has been suffering from falling sales in China, saw its Grandeur sedan's brand value plunge 15 steps to 62nd place. The brand value of the Sonata sedan was also ranked at just 89th place. (Yonhap)
