Korean global brand Hyundai Motor has reached its best ranking yet in the Interbrand’s 2013 Best 100 Global Brands, placing at the first 50 companies.
The Korean brand’s value has reached $9 billion, placing 43rd, its highest record yet based on brand consultancy Interbrand.
Before the recent placing, Hyundai joined the list in 2005, taking the 84th spot and has gained a steady increase in brand value, with the 160-percent surge and climbing 41 notches since it joined the top 100 lineup. It has also been in the Best 100 Global Brands list for nine consecutive years.
The Interbrand rankings are calculated using companies’ financial balance sheets combined with marketing activities, while also reflecting each brand’s potential profit.
It claimed that Hyundai Motor’s brand value has increased 96 percent, more than doubling the industry average of 42 percent for the past five years.
In a statement, Hyundai Motor claimed that the “figure has jumped more than 20 percent each year after the company announced its shift to brand management in 2011, indicating the successful application of ‘Modern Premium’ brand directions.”
For their part, Interbrand said that the Hyundai brand has “established a solid position in the global market, continues to strengthen its image with a track record of
building vehicles with leading style, design, and performance.”
“With stylish design, the Hyundai brand has driven success over the past few years. It is also building a loyal fan base through continued refinements to its lineup and ongoing investment on the brand including UEFA, FIFA and World Rally Championship sponsorships. Breaking the top 50 barrier in 2013, we look forward to Hyundai’s next innovative move,” it added.
Meanwhile, Hyundai Motor Chief Marketing Officer Won Hong Cho said that the growth in brand value shows the company’s enhanced status in the global market.
Ruben D. Manahan 4th