Date
15 December 2017
Samsung co-CEO Yoon Boo-keun said the investment will enable the company to speed up the delivery of premium home appliances. Photo: Bloomberg
Samsung co-CEO Yoon Boo-keun said the investment will enable the company to speed up the delivery of premium home appliances. Photo: Bloomberg

Samsung to invest US$380 million in South Carolina plant

Samsung Electronics Co. said it will invest US$380 million in its home-appliance manufacturing plant in Newberry, South Carolina.

The investment is expected to generate 954 local jobs by 2020, including engineers and craftsmen, the Wall Street Journal reports, citing a company statement.

Wednesday’s announcement came as South Korean President Moon Jae-in arrived in Washington for a summit meeting with US President Donald Trump.

The facility will start making home appliances later this year, and will eventually become Samsung’s manufacturing hub in the United States, the company said.

“This new investment will enable Samsung to increase the speed with which we can deliver premium home appliances,” Samsung Electronics co-chief executive Yoon Boo-Keun said in a statement.

“Samsung’s investment is great news for South Carolina and the United States, and it is a direct reflection of the fact that America is becoming an even stronger destination for global businesses looking to grow,” US Commerce Secretary Wilbur Ross said.

The company said the US$380 million investment in South Carolina was an initial one, “with plans to grow from there”.

It said it has invested more than US$10 billion in the US over the past 18 months, including its US$8 billion acquisition of automotive technology manufacturer Harman International Inc., which was announced last year.

Samsung said it chose the Newberry site for its workforce, supply chain and access to transportation. 

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RC/CG

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