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.
S. Korea embraces deepening trade row as Japan considers additional measures
S. Korea expands 5G user base, but quality remains issue
S. Korean shipbuilders striving to break GTT monopoly in LNG containment systems
Japan's export curbs to weigh on S. Korean tech firms
Tada struggles to go beyond legal gray area in S. Korean taxi market