Korean firms post strong sales growth in North America despite US tariffs

SEOUL, February 10 (AJP) - Major South Korean companies recorded double-digit growth in North American sales last year despite higher U.S. tariffs, with technology and power equipment firms leading gains, according to corporate data released on Monday.

North American revenue at 67 South Korean companies that separately disclose sales results in the region, along with 194 subsidiaries, reached 343.8 trillion won as of the third quarter of last year, up 14.1 percent from 301.2 trillion won a year earlier, according to corporate tracker Leaders Index.

The increase outpaced overall revenue growth of 8 percent over the same period, with total sales rising to 1,110.5 trillion won. As a result, North America’s share of total revenue climbed to 31 percent from 29.3 percent a year earlier.

Technology and electronics companies recorded the strongest expansion, with North American sales rising 20.7 percent to 157.9 trillion won.

Memory chipmaker SK hynix posted a 65.5 percent jump in regional sales to 45.2 trillion won, lifting North America’s share of its total revenue to more than 70 percent. Samsung Electronics reported a 10.2 percent increase in North American sales to 93.3 trillion won, while LG Electronics recorded a slight 0.3 percent decline to 16.9 trillion won.

Power equipment makers also benefited from rising electricity demand linked to artificial intelligence data centers and grid expansion. Hyosung Heavy Industries and LS Electric posted North American sales growth of 52.9 percent and 84.8 percent, respectively.

In contrast, growth was muted in the automotive sector, where tariffs have weighed on trade flows. Combined North American sales rose marginally to 126.6 trillion won from 126.3 trillion won, while the region’s share of total auto revenue fell to 39.3 percent from 43.6 percent.

Hyundai Motor’s North American sales increased to 62.2 trillion won from 57.4 trillion won, while Kia’s rose to 38.2 trillion won from 35.6 trillion won.

The battery sector saw declining sales in the region. Samsung SDI’s North American revenue dropped more than 40 percent to 2.46 trillion won, while POSCO Future M recorded a 27.6 percent decline to 782.3 billion won.

* This article, published by Aju Business Daily, was translated by AI and edited by AJP.