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This study empirically investigates how Environmental, Social, and Governance (ESG) discourses among major Korean Business-to-Business (B2B) corporations (POSCO, LG Chem, and HD Hyundai) were reconfigured in the context of former President Trump’s re-election campaign and the 2024 U.S. presidential election. The observation periods were divided into the Pre-Trump period (1 May 2023 to 30 April 2024) and the Post-Trump period (1 May 2024 to 30 April 2025). External discourses were examined using social media, news, and blog posts, while internal discourses were analyzed through the CEO’s New Year addresses from 2021 to 2025. Keyword frequency analysis and co-occurrence network analysis, conducted via the ‘Sometrend’ platform, were combined to trace structural transitions in corporate discourses. The results show that: (1) the relative share and network centrality of environmental (E) keywords declined in the Post-Trump period, with several environmental terms losing core positions and becoming peripheral or bridging nodes, while policy- and economic-related terms increased; (2) social (S) and governance (G) keywords appeared only sporadically and remained peripheral across periods; (3) temporal concentrations of policy–economic keywords coincided with significant political and market-related events, such as financial volatility in 2023 and the tariff policy announcement in February 2025, indicating temporal alignment rather than deterministic causality; (4) firm-level differences were evident: POSCO exhibited the most pronounced structural shift, LG Chem’s discourses increasingly emphasized supply chain and investment-related terms alongside environmental keywords, and HD Hyundai showed a shift toward more risk- and operation-oriented keywords in the later period; and (5) CEO New Year addresses displayed directionally consistent patterns with external discourse, supporting cross-textual alignment. These findings demonstrate that ESG discourse is not a fixed normative language but a strategically adaptive frame that varies according to political–economic contexts and industrial conditions. The relative weakening of the environmental frame in terms of discourse centrality, alongside the strengthening of the policy–economic frame, differed by industry, reflecting variations in regulatory exposure and operational characteristics. By observing ESG discourses longitudinally and comparatively, this study provides empirical evidence of how political and industrial dynamics reshape corporate discourses and CEO communication. Moreover, keyword frequency and co-occurrence network analysis are validated as effective methods for identifying discourse shifts, offering both academic contributions and practical implications for corporate communication analysis.