Samsung tops corporate image list

By Kim Tong-hyung

Product quality and corporate size mean more to consumers than firms’ efforts to massage their egos, according to a survey by the Korea Chamber of Commerce and Industry (KCCI).

Predictably, the ``big-three’’ chaebol of Samsung, LG and Hyundai were found to be the country’s most respected business brands, but mid-sized player Yuhan Kimberly came an impressive fourth.

Of the 350 adults who were quizzed by the KCCI, about 70 percent of them said the quality of products was the most decisive factor in shaping a company’s corporate image. Twelve percent said they put most trust in the size of the company, while 8.7 percent valued consumer-centric management policies.

A company’s future growth potential, ethical management and friendliness of employees were found to be minor factors.

About 80 percent of the respondents said that corporate image influences their purchase decisions. Nearly 40 percent of them said they have more trust in domestic brands than foreign ones.

About 40 percent picked journalistic outlets as their main source for information on the companies, followed by the Internet (32 percent) and public relations (PR) material (20 percent).

Nearly 57 percent of those surveyed picked the Samsung Group, kingpin of Korea Inc. and parent of global technology giant Samsung Electronics, as the country’s best business brand. LG Group, a heavyweight in electronics, chemical and retail, finished second after receiving 12.3 percent of the votes, while Hyundai, which is earning its stripes as a global automotives player, finished third with 8.7 percent of the votes.

Yuhan Kimberly, which has a reputation for transparent management and good employee welfare, finished fourth on the list with 7.7 percent of the votes. It edged out a much-bigger contender in POSCO, the world’s third-largest steel producer, which was picked by 7.3 percent of the respondents.