LG Chem Brand Value 5.4 Trillion Won 'World's 3rd'... Surpasses US Dow

by Moon Chaeseok

Published 08 Jun.2022 07:17(KST)

Updated 08 Jun.2022 08:11(KST)

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English Brand Finance Corporate Evaluation

Chemical Industry Top 2 Are German BASF and Saudi SABIC

[Asia Economy Reporter Moon Chaeseok] LG Chem's brand value has been evaluated at approximately 5.4 trillion KRW. It ranks 3rd among global chemical companies, surpassing U.S. Dow and others.

According to the industry on the 8th, the UK-based global brand valuation consulting firm 'Brand Finance' recently released the '2022 Chemical Companies Report 25,' in which LG Chem's brand value was assessed at $4.297 billion (about 5.4095 trillion KRW). This marks a 19% increase from last year, surpassing 5 trillion KRW for the first time. Its ranking also rose from 4th to 3rd, overtaking the U.S. Dow, and it was the only domestic company to be listed in the top 25.

Looking at the yearly figures, LG Chem recorded $2.421 billion (5th place) in 2018, $3.338 billion (4th place) in 2019, $3.5 billion (4th place) in 2020, and $3.602 billion (4th place) last year, showing a growth trend.

Germany's BASF maintained its 1st place position this year as well, following last year. BASF's brand value was evaluated at $8.348 billion (about 10.5 trillion KRW), a 15% increase from last year. Saudi Arabia's SABIC held 2nd place with a brand value of $4.67 billion (about 5.9 trillion KRW), a 16% increase from last year. Dow's brand value rose 15% to $4.293 billion (about 5.4 trillion KRW) compared to the previous year but dropped one rank to 4th, falling behind LG Chem.

Brand Finance highlighted LG Chem's strengthening of business capabilities by reorganizing its business portfolio around three new growth engines: eco-friendly materials, battery materials, and global new drugs, following its record-high performance last year. According to the Financial Supervisory Service, LG Chem posted consolidated sales of 42.6547 trillion KRW and an operating profit of 5.0255 trillion KRW last year, setting a new record for maximum performance.