Korea’s brand value ranked 16th in 2013 to rise a notch higher than the previous year, according to an annual report by Brand Finance, an asset valuation consultancy based in London.

Valued at $775 billion, which reflects a 7 percent increase from the year before, Korea reclaimed its place as the 16th-most valuable brand in the world. It had held the post for 2010 and 2011 before falling to 17th place in 2012.

The United States, China and Germany have been ranked as the top three in brand value since 2012.

The annual report from Brand Finance is based on its Brand Strength Index that is calculated by the input, throughput and output in the four categories of investment, tourism, production and human resources. The report also presents an analysis of the impact that a country’s reputation and image has on foreign consumers and investors.