A new report has assessed that South Korea’s brand value is undervalued compared to the nation’s gross domestic product(GDP).

According to the report released by the Korea International Trade Association on Monday, South Korea’s brand value amounted to one trillion 92 billion U.S. dollars as of 2015. However, such value accounted for only 76 percent of South Korea’s GDP.

The report quoted data from consulting firm, Brand Finance, and the International Monetary Fund.

The report found that the U.S., Germany and Britain’s brand value-to-GDP ratio amounted to 111 percent.

The association cited that the nation’s brand value policy lacked consistency and continuity due to frequent changes in slogans and related organizations.

The association stressed that for the sake of promoting exports, there is a need for policies to enhance the national brand.

The report said that last year’s national brand slogan, “Creative Korea,” failed to gain consensus and saw a fall in credibility due to plagiarism allegations and political controversies.