In a report released by the Korea CXO Research Institute, it was revealed that 679 of Lage Businessesā 6,166 overseas subsidiaries are located in countries classified as tax havens [adf1a282]. The report also highlighted that 88 domestic groups now operate a total of 6,166 overseas subsidiaries spread across 129 countries, with Hanwha Group leading with over 800 subsidiaries [adf1a282]. The United States remains a key destination, hosting 1,590 subsidiaries, while the number of subsidiaries in China has decreased. Vietnam has seen a substantial increase in the number of subsidiaries [adf1a282].
The findings raise ethical questions about corporate social responsibility, as the establishment of subsidiaries in tax havens is seen as a way to minimize tax obligations. The report emphasizes the need for strategic governmental policies to attract and retain corporate investments domestically, as well as the importance of governmental intervention to attract these factories domestically [adf1a282].