diff --git a/lib/CompatibilityPlugin.js b/lib/CompatibilityPlugin.js
index 54b04bfcad4..012d88a7cd2 100644
--- a/lib/CompatibilityPlugin.js
+++ b/lib/CompatibilityPlugin.js
@@ -10,7 +10,7 @@ const ConstDependency = require("./dependencies/ConstDependency");
 /** @typedef {import("./Compiler")} Compiler */
 /** @typedef {import("./javascript/JavascriptParser")} JavascriptParser */
 
-const nestedWebpackRequireTag = Symbol("nested __webpack_require__");
+const nestedWebpackIdentifierTag = Symbol("nested webpack identifier");
 
 class CompatibilityPlugin {
 	/**
@@ -78,14 +78,18 @@ class CompatibilityPlugin {
 							statement.id.name === "__webpack_require__"
 						) {
 							const newName = `__nested_webpack_require_${statement.range[0]}__`;
-							parser.tagVariable(statement.id.name, nestedWebpackRequireTag, {
-								name: newName,
-								declaration: {
-									updated: false,
-									loc: statement.id.loc,
-									range: statement.id.range
+							parser.tagVariable(
+								statement.id.name,
+								nestedWebpackIdentifierTag,
+								{
+									name: newName,
+									declaration: {
+										updated: false,
+										loc: statement.id.loc,
+										range: statement.id.range
+									}
 								}
-							});
+							);
 							return true;
 						}
 					});
@@ -93,7 +97,21 @@ class CompatibilityPlugin {
 						.for("__webpack_require__")
 						.tap("CompatibilityPlugin", pattern => {
 							const newName = `__nested_webpack_require_${pattern.range[0]}__`;
-							parser.tagVariable(pattern.name, nestedWebpackRequireTag, {
+							parser.tagVariable(pattern.name, nestedWebpackIdentifierTag, {
+								name: newName,
+								declaration: {
+									updated: false,
+									loc: pattern.loc,
+									range: pattern.range
+								}
+							});
+							return true;
+						});
+					parser.hooks.pattern
+						.for("__webpack_exports__")
+						.tap("CompatibilityPlugin", pattern => {
+							const newName = "__nested_webpack_exports__";
+							parser.tagVariable(pattern.name, nestedWebpackIdentifierTag, {
 								name: newName,
 								declaration: {
 									updated: false,
@@ -104,7 +122,7 @@ class CompatibilityPlugin {
 							return true;
 						});
 					parser.hooks.expression
-						.for(nestedWebpackRequireTag)
+						.for(nestedWebpackIdentifierTag)
 						.tap("CompatibilityPlugin", expr => {
 							const { name, declaration } = parser.currentTagData;
 							if (!declaration.updated) {
diff --git a/test/configCases/output-module/reuse-webpack-esm-library/index.js b/test/configCases/output-module/reuse-webpack-esm-library/index.js
new file mode 100644
index 00000000000..d62ae0367e2
--- /dev/null
+++ b/test/configCases/output-module/reuse-webpack-esm-library/index.js
@@ -0,0 +1,5 @@
+import { useCall } from "./lib";
+
+it("should compile and run", () => {
+	expect(useCall()).toBe(1);
+});
diff --git a/test/configCases/output-module/reuse-webpack-esm-library/lib.js b/test/configCases/output-module/reuse-webpack-esm-library/lib.js
new file mode 100644
index 00000000000..abd78cc6d93
--- /dev/null
+++ b/test/configCases/output-module/reuse-webpack-esm-library/lib.js
@@ -0,0 +1,95 @@
+import * as __WEBPACK_EXTERNAL_MODULE_react__ from "react";
+/******/ var __webpack_modules__ = ({
+
+	/***/ "react":
+	/*!************************!*\
+		!*** external "react" ***!
+		\************************/
+	/***/ ((module) => {
+
+		var x = y => { var x = {}; __webpack_require__.d(x, y); return x; }
+		var y = x => () => x
+		module.exports = __WEBPACK_EXTERNAL_MODULE_react__;
+
+		/***/ })
+
+	/******/ });
+/************************************************************************/
+/******/ // The module cache
+/******/ var __webpack_module_cache__ = {};
+/******/
+/******/ // The require function
+/******/ function __webpack_require__(moduleId) {
+	/******/ 	// Check if module is in cache
+	/******/ 	var cachedModule = __webpack_module_cache__[moduleId];
+	/******/ 	if (cachedModule !== undefined) {
+		/******/ 		return cachedModule.exports;
+		/******/ 	}
+	/******/ 	// Create a new module (and put it into the cache)
+	/******/ 	var module = __webpack_module_cache__[moduleId] = {
+		/******/ 		// no module.id needed
+		/******/ 		// no module.loaded needed
+		/******/ 		exports: {}
+		/******/ 	};
+	/******/
+	/******/ 	// Execute the module function
+	/******/ 	__webpack_modules__[moduleId](module, module.exports, __webpack_require__);
+	/******/
+	/******/ 	// Return the exports of the module
+	/******/ 	return module.exports;
+	/******/ }
+/******/
+/************************************************************************/
+/******/ /* webpack/runtime/define property getters */
+/******/ (() => {
+	/******/ 	// define getter functions for harmony exports
+	/******/ 	__webpack_require__.d = (exports, definition) => {
+		/******/ 		for(var key in definition) {
+			/******/ 			if(__webpack_require__.o(definition, key) && !__webpack_require__.o(exports, key)) {
+				/******/ 				Object.defineProperty(exports, key, { enumerable: true, get: definition[key] });
+				/******/ 			}
+			/******/ 		}
+		/******/ 	};
+	/******/ })();
+/******/
+/******/ /* webpack/runtime/hasOwnProperty shorthand */
+/******/ (() => {
+	/******/ 	__webpack_require__.o = (obj, prop) => (Object.prototype.hasOwnProperty.call(obj, prop))
+	/******/ })();
+/******/
+/******/ /* webpack/runtime/make namespace object */
+/******/ (() => {
+	/******/ 	// define __esModule on exports
+	/******/ 	__webpack_require__.r = (exports) => {
+		/******/ 		if(typeof Symbol !== 'undefined' && Symbol.toStringTag) {
+			/******/ 			Object.defineProperty(exports, Symbol.toStringTag, { value: 'Module' });
+			/******/ 		}
+		/******/ 		Object.defineProperty(exports, '__esModule', { value: true });
+		/******/ 	};
+	/******/ })();
+/******/
+/************************************************************************/
+var __webpack_exports__ = {};
+// This entry need to be wrapped in an IIFE because it need to be isolated against other modules in the chunk.
+(() => {
+	/*!***************************!*\
+		!*** ./src/store/call.ts ***!
+		\***************************/
+	__webpack_require__.r(__webpack_exports__);
+	/* harmony export */ __webpack_require__.d(__webpack_exports__, {
+		/* harmony export */   "useCall": () => (/* binding */ useCall),
+		/* harmony export */   "withCallManager": () => (/* binding */ withCallManager)
+		/* harmony export */ });
+	/* harmony import */ var react__WEBPACK_IMPORTED_MODULE_0__ = __webpack_require__(/*! react */ "react");
+
+	function withCallManager() {
+		return react__WEBPACK_IMPORTED_MODULE_0__.createElement(1);
+	}
+	function useCall() {
+		return withCallManager();
+	}
+})();
+
+var __webpack_exports__useCall = __webpack_exports__.useCall;
+var __webpack_exports__withCallManager = __webpack_exports__.withCallManager;
+export { __webpack_exports__useCall as useCall, __webpack_exports__withCallManager as withCallManager };
diff --git a/test/configCases/output-module/reuse-webpack-esm-library/react.js b/test/configCases/output-module/reuse-webpack-esm-library/react.js
new file mode 100644
index 00000000000..10a7ad78896
--- /dev/null
+++ b/test/configCases/output-module/reuse-webpack-esm-library/react.js
@@ -0,0 +1 @@
+export function createElement(a) { return a; }
diff --git a/test/configCases/output-module/reuse-webpack-esm-library/webpack.config.js b/test/configCases/output-module/reuse-webpack-esm-library/webpack.config.js
new file mode 100644
index 00000000000..8d969d27bc5
--- /dev/null
+++ b/test/configCases/output-module/reuse-webpack-esm-library/webpack.config.js
@@ -0,0 +1,14 @@
+const path = require("path");
+/** @type {import("../../../../").Configuration} */
+module.exports = {
+	mode: "development",
+	devtool: "eval",
+	optimization: {
+		concatenateModules: false
+	},
+	resolve: {
+		alias: {
+			react: path.resolve(__dirname, "react")
+		}
+	}
+};