The brand of South Korean household corporate name Samsung has become worth $92.3 billion, fourth most powerful in the world after last year’s stunning performance, according to a British consultancy company.

In Brand Finance’s Top 500 most valuable brands scale, Samsung - mostly known for phones and electronics to consumers although its business ranges from memory chip and other electronic components to finance and hotels - moved up two notches to the fourth rank with brand worth gaining 39 percent last year.

“As the company strives to be at the forefront of technology, and its brand philosophy “Do What You Can’t” continues to resonate with consumers, Samsung is on the right track to grow in both brand value and brand strength in the future,” said Brand Finance in the report posted on its website.

The British company assesses the brand power of global companies based on market investment, stakeholder equity, and business performance.

The agency also attributed Samsung’s ascent in global brand awareness to its new smartphones Galaxy S8, S8 Plus and Note 8.

In the same 2018 rank, U.S. e-commerce giant Amazon was atop with its brand power gaining 42 percent on year to a worth of $150.8 billion, moving up from the third. Samsung’s smartphone rival Apple Inc. defended second place in ranking with brand value estimated at $146.3 billion. Google Inc. was dethroned from the first place and slipped to the third with its brand strength adding just 10 percent from a year ago.

Among Korean names, Hyundai Motor Group skidded down to 79th from 43rd as its presence significantly dwindled in the world’s two largest car markets - China and the United States with its brand power losing 24 percent to $17.8 billion.

LG Group whose high-end products dominate the white-goods market moved up to the 88th place from 111th with its brand value soaring 38 percent on year to $16.8 billion.

Some other Korean brands that made Brand Finance’s Global 500 list include SK Group (113rd), KT Corp. (335th), SK Hynix Inc. (340th), and Korea Electric Power Corp. (349th).

By Park Joon-hyung and Cho Jeehyun

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