Samsung electronics to open a home appliance manufacturing plant in United States

Samsung Electronics Co Ltd has agreed to open a $380 million home appliance manufacturing plant in South Carolina, the United States, it said on 28 June.

The South Korean firm said this year it was in talks to build a home appliances plant in the United States amid worries about protectionist policies under US President Donald Trump put pressure on global companies to generate jobs in the country.

Asia’s biggest company by market capitalisation said in a statement that the new plant in Newberry County, South Carolina is expected to generate 954 local jobs by 2020.

In February, President Trump tweeted “Thank you, @samsung! We would love to have you!” in reference to the possibility of a new Samsung plant.

Thank you, @Samsung! We would love to have you! https://t.co/r5nxC9oOA4

— Donald J. Trump (@realDonaldTrump) February 2, 2017

“With this investment, Samsung is reaffirming its commitment to expanding its US operations and deepening our connection to the American consumers, engineers and innovators,” Samsung Electronics America President and CEO Tim Baxter said.

In March home appliances rival LG Electronics Inc announced a $250 million plan to build a factory in Tennessee.

Trump is set to host South Korean President Moon Jae-in at the White House on  29-30 June to advance economic cooperation and discuss ways of strengthening the two countries’ “ironclad” alliance, the White House said this month.

Reuters