Eight Local Subsidiaries of Domestic Major Companies in Israel... Samsung Leads with Five

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It has been identified that there are a total of eight local subsidiaries established by major domestic groups in Israel, which is currently at war with the Palestinian armed group Hamas.

Korea CXO Institute, a corporate analysis specialist, analyzed the status of Israeli subsidiaries of 82 groups designated as large business groups by the Fair Trade Commission last year and announced the results on the 12th.

Among the large business groups surveyed, four groups?Samsung, SK, LG, and OCI?have overseas subsidiaries in Israel. The number of local subsidiaries is five for Samsung, and one each for SK, LG, and OCI.

Samsung has three local subsidiaries operating in Israel through Samsung Electronics Benelux, which is 100% owned by Samsung Electronics.

These include Samsung Electronics Israel, responsible for marketing; Samsung Semiconductor Israel R&D Center, a research and development (R&D) hub; and Corephotonics, which operates in the camera business. Samsung also disclosed in the Fair Trade Commission's announcement that Red Bend, an audio manufacturing company directly controlled by Harman Becker, is considered an overseas subsidiary. Additionally, through Samsung Bioepis, Samsung Bioepis IL, a bio company in Israel, is also maintained as a local subsidiary.

Within the LG Group, there is Sibelum, an Israeli automotive cybersecurity company acquired by LG Electronics in 2021.

OCI Group affiliate Bukwang Pharmaceutical recently acquired Protect Therapeutics, a pharmaceutical research and development company in Israel, incorporating it as an overseas subsidiary.

So far, no damages have been reported to Korean companies operating locally due to the ongoing war.

This content was produced with the assistance of AI translation services.