[Photo by Hyundai Motor Co.]
South Korea’s Hyundai Motor Co. has been cited as the 35th most valuable brand and sixth among car names while its sister company Kia Motors ranked 69th in this year’s “Best Global Brand” scale.
Hyundai Motor which joined the top 100 list in 2005 saw its brand worth gain 5.1 percent from a year ago to $13.2 billion.
Brand consulting firm Interbrand compiles world’s top 100 brand list every year by evaluating a brand in three key aspects - financial performance of the brand’s products or services, the role of the brand in influencing consumer choice, and the brand’s strength to create loyalty, which would secure demand and profits.
Hyundai Motor has continued to actualize its future mobility vision by developing self-driving and connected car technologies in line with its branding objective of ‘Modern Premium,’ said an unnamed Interbrand official. The Korean automaker’s brand value has grown by 15 percent on average every year since it launched its new corporate vision under the theme of ‘Modern Premium’ in 2011.
Hyundai Motor’s smaller sibling Kia Motors also made the Interbrand’s 2017 Best Global Brand list for the sixth straight year by recording brand value of $6.7 billion. It made its debut on the top 100 global brand list in 2012, and its brand value has jumped by sevenfold from $900 million in 2006 when it renewed its strategy to put greater efforts on design.
Kia Motors’ rapid growth in brand value comes largely from its efforts to reform its brand image coupled with strong product lineups. The automaker launched new brand strategy under the slogan ‘The Power to Surprise,’ to boost its brand awareness in 2005 and has executed various projects from upgrading car design to improving sales and marketing activities.
By Lee Seung-hoon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]