LG Chem retains 4th place in world's most valuable chemicals brand ranking

SEOUL, Feb. 17 (Yonhap) -- South Korean chemical giant LG Chem Ltd. retained fourth place in a ranking of the world's most valuable chemicals brands, a British corporate valuation consultancy has said.

LG Chem's brand value is estimated at US$3.5 billion in the Brand Finance Chemicals 25 2020 ranking, compared with $3.33 billion in 2019, Brand Finance said in its annual report released in January.

Brand Finance said on its website that aside from determining overall brand value, it evaluates the relative strength of brands through a balanced scorecard of metrics on marketing investment, stakeholder equity and business performance.

The hike came amid robust sales in LG Chem's mainstay battery business.

LG Chem is one of global market leaders in the EV battery sector.

LG Chem has supplied batteries for more than 2.7 million electric vehicles, including those of GM, Ford, Renault, Volvo, Audi, Volkswagen and Daimler, as well as South Korea's largest carmaker, Hyundai Motor Co., and its smaller affiliate, Kia Motors Corp.

German giant BASF defended its title as the world's most valuable chemicals brand.

BASF was followed by U.S. chemical giant Dow Chemical Co. and Saudi Arabian petrochemicals giant SABIC, according to Brand Finance.

entropy@yna.co.kr
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