Brand value of the most valuable South Korean brands 2024
With a brand value of over 82.2 billion U.S. dollars, Samsung was the most valuable South Korean brand in 2024, greatly surpassing Hyundai, SK Hynix, as well as LG Electronics.
With its headquarters in the northwestern South Korean city of Suwon, Samsung is a world leader in the manufacturing of consumer electronics and semiconductors. Globally, Samsung produces more smartphones and mobile phones than any other brand, and has a strong presence in the tablet, television and computer components markets.
The evolution of Samsung
In its early days, Samsung was recognized for producing cheap consumer electronic alternatives. Customer perceptions have changed over the years, largely due to Samsung’s successful branding and advertising strategy adopted in the 90s. Today, innovation and creativity are both values which Samsung seeks to encapsulate through its products. Accordingly, Samsung smartphone owners are loyal, with a majority of global Samsung consumers opting for their next purchase to be a Samsung mobile rather than an Apple iPhone.
Samsung in numbers
Samsung has come a long way from its early establishment in South Korea to its current position as a globally recognized multinational conglomerate. It achieved a global revenue of close to 200 billion U.S. dollars in 2023.
The largest department in terms of employment at Samsung’s headquarters was the ‘Device Solutions’ division in 2023. This department is responsible for ensuring the ‘inner workings’ of Samsung’s electronic devices are optimized in terms of performance and reliability.
Most product development is not based in South Korea itself. In 2023, Samsung had registered around 40 patents more in the United States compared to in South Korea during that year. Consequently, global research and development spending at Samsung Electronics reached an all time high in 2023 - a trend that looks likely to continue in coming years.
