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The value of the UNESCO brand in Seoul

Seoul, UNESCO in deal on design (Korea Times, 9/14/2010)

An article in the Korea Times discusses the agreement between the City of Seoul, South Korea and South Korea's chapter of UNESCO, which will allow the city to use the UNESCO logo in promotional materials relating to the city's designation as the eighth UNESCO "Creative City for Design." Will the UNESCO logo and the official designation benefit the city's image as a design capital? According to the article,

"The city estimates that being a UNESCO City of Design will help it jump in the city brand value rankings to 20th from the current 33rd within five years."

What is the value of a city's brand, and what does this ranking contribute to its competitiveness on the world stage? Is this a wise strategy for Seoul as it seeks to distinguish itself in design and to grow its design industry through marketing and brand maintenance? What are your thoughts?

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