[Edaily Reporter Choi Oh-hyun ] It has been revealed that the overseas business hubs of South Korea’s top 30 conglomerates are rapidly shifting from China to the United States. Over the past decade, the number of affiliates in the U.S. has more than tripled, while the number of affiliates in China has decreased by more than 24 percent. This is interpreted as the result of a combination of the restructuring of global supply chains due to U.S.-China trade tensions and the expansion of local production in the United States. In particular, analysts note that as the United States has emerged as a key market for cutting-edge technology and future industries due to the rapid growth of the artificial intelligence (AI) sector, changes are also appearing in the global business strategies of major South Korean conglomerates.

On the 4th, the corporate data research institute CEO Score surveyed the locations of overseas subsidiaries for 28 of South Korea’s top 30 conglomerates—excluding HMM and Coupang—and found that, as of the end of June this year, there were a total of 4,935 overseas subsidiaries. This represents an increase of 1,906 (62.9%) from the 3,029 recorded in 2016.

By country, the United States had the highest number with 1,308 locations, accounting for 26.5% of the total. This represents an increase of 914 locations (232.0%) from the 394 recorded in 2016. In contrast, the number in China decreased by 171 locations (24.4%) from 700 to 529 during the same period. China’s share of all overseas affiliates also shrank from 23.1% to 10.7%.

Following the U.S. and China were: △Vietnam with 221 locations (4.5%) △Japan with 197 locations (4.0%) △France with 189 (3.8%) △Singapore with 181 (3.7%) △Australia with 168 (3.4%) △Indonesia with 151 (3.1%).

The number of U.S. affiliates of the five major conglomerates—Samsung, SK, HyundaiMotor, LG Corp., and Hanwha—rose from 240 in 2016 to 888 this year, an increase of 648 over the past decade. During the same period, the number of affiliates in China fell from 330 to 269.

Hanwha Group saw the largest increase in the number of U.S. subsidiaries. Over the past 10 years, the number rose by 311, from 63 to 374. This was driven by the expansion of its solar power and energy storage system (ESS) businesses, as well as the acquisition of the Philadelphia Shipyard in the U.S. SK Group saw an increase of 203 subsidiaries, from 40 to 243. This reflected the growth of SK On’s battery business and the expansion of its energy solutions-related subsidiaries.

Samsung Group increased its U.S. subsidiaries by 43, from 52 to 95. This was driven by SamsungElectronics’ acquisition of Harman and SAMSUNG SDI CO.,LTD.’s U.S. battery joint ventures.

LG Group also saw its U.S. affiliates increase by 34, from 30 to 64. This included the addition of LG Energy Solution’s joint ventures with General Motors (GM) and Honda, as well as its battery business entity in Arizona.

In China, the number of subsidiaries decreased due to business restructuring and spin-offs. LG Corp.’s Chinese subsidiaries fell from 85 to 50. This reflects the sale of LG Display’s Guangzhou liquid crystal display (LCD) business, among other factors. Samsung and SK also saw decreases of 8 and 12 subsidiaries, respectively.

Industry observers believe that the shift of global business hubs for major South Korean conglomerates from China to the U.S. is driven not only by supply chain restructuring resulting from the U.S.-China trade conflict but also by the rapid growth of the AI industry. The U.S. has emerged as a market where key customers and technologies for future high-tech industries—such as AI semiconductors, data centers, and robotics—are concentrated. Consequently, the objectives of South Korean companies entering the U.S. market appear to be expanding beyond simply securing production and sales bases to include technological collaboration and securing future growth engines.

In addition to the top five conglomerates, Lotte’s Chinese subsidiaries decreased by 67, from 80 to 13; POSCO’s decreased by 17, from 43 to 26; DOOSAN’s decreased by 15, from 22 to 7; CJ Corp.’s decreased by 12, from 100 to 88; and GS Holdings’s decreased by 9, from 23 to 14.

In contrast, six groups—including Naver and HYUNDAIDEPARTMENTSTORECO.,LTD—actually saw an increase in the number of their Chinese subsidiaries. Naver saw the largest increase, rising from 2 in 2016 to 12 in 2026. HYUNDAIDEPARTMENTSTORECO.,LTD increased from 5 to 10; HD HYUNDAI from 11 to 13; Kakao from 3 to 5; and DL from 2 to 4—each adding 2 locations. Mirae Asset increased by 1, from 5 to 6.

Cho Won-man, CEO of CEO Score, said, “As the U.S.-China trade war intensified and mutual tariff issues arose following the inauguration of the Trump administration, it appears that large corporations have shifted their overseas bases en masse from China to the United States.”