S-Oil won the presidential award at the 15th Korea Brand Awards ceremony, hosted by the Ministry of Trade, Industry and Energy and organized by the Institute for Industrial Policy Studies, the company said Wednesday.
S-Oil is the first refiner to receive the government-recognized top brand award. IPS, the organizer, said it evaluated three-year brand management strategies and activities of the award candidates in five areas: brand building, brand management, brand communication, brand equity and brand trend.
S-Oil was the year’s best performer in brand management, as the company implemented integrated marketing communication based on systematic brand management and successfully introduced the people-friendly brand character “Goodoil” for the first time in the refining industry, the IPS said.
As refiners have little differentiation in terms of product price and quality, S-Oil turned to brand management for differentiation and for creation of added emotional value, the institute said in a press release.
“S-Oil’s brand communication aims at ceaseless change and innovation from the consumers’ perspective. Among its changes and innovation is the ‘Goodoil’ character,’’ it added.
Local outdoor brand Blackyak received the No. 2 prize, the prime minister brand award, for its brand originality.
Hongki tongki, a ginseng candy brand by Hamsoa Pharmaceutical, and Nubiza, the bicycle brand for public rentals operated by Changwon City, South Gyeongsang Province, won the industry ministry award for their performances in brand positioning.
By Seo Jee-yeon (
jyseo@heraldcorp.com)
