SEOUL, Feb. 8 (Yonhap) -- LG Chem Ltd., South Korea's top chemical company, is the world's fastest growing chemical brand, with its brand value rising 38 percent to US$3.3 billion, a report showed Friday.
According to an annual report on the world's most valuable chemical brands by Britain-based Brand Finance, LG Chem ranked fourth on the list of the world's most valuable and strongest chemical companies, up one notch from the previous year.
Germany's BASF retained its title, with the company's value estimated at $8.3 billion.
SABIC from Saudi Arabia saw its brand value rise 6 percent to $4 billion last year, the latest findings showed.
"LG Chem has enhanced its brand visibility in Asia, largely due to increased sales and the expansion of the company's battery plants in China," the report said.
LG Chem posted sales of 28.18 trillion won ($25.1 billion) last year, up 10 percent from a year earlier.
Retail giants undergoing painful restructuring amid earnings shock
New coronavirus set to spell trouble for S. Korean economy
(News Focus) Korean manufacturers bear brunt of new coronavirus
(News Focus) Virus outbreak has no imminent impact on Korean retail sector, yet on preemptive alert
Wealth management service increasingly popular in S. Korea