Home / FINANCE / Markets Insider / UPDATE 1-Samsung Elec to open $380 mln home apparatus plant in U.S. (005930, 066570)

UPDATE 1-Samsung Elec to open $380 mln home apparatus plant in U.S. (005930, 066570)

(Adds context, quote, Trump-Moon meeting)

SEOUL, Jun 28 (Reuters) – Samsung Electronics Co Ltd
has concluded to open a $380 million home appliance
manufacturing plant in South Carolina, a United States, it
said on Wednesday.

The South Korean organisation pronounced this year it was in talks to
build a home appliances plant in a United States amid worries
about protectionist policies underneath U.S. President Donald Trump
put vigour on tellurian companies to beget jobs in the
country.

Asia’s biggest association by marketplace capitalisation pronounced in a
statement that a new plant in Newberry County, South Carolina
is approaching to beget 954 internal jobs by 2020.

In February, President Trump tweeted “Thank you, @samsung!
We would adore to have you!” in anxiety to a probability of a
new Samsung plant.

“With this investment, Samsung is reaffirming a commitment
to expanding a U.S. operations and deepening a tie to
the American consumers, engineers and innovators,” Samsung
Electronics America President and CEO Tim Baxter said.

In Mar home appliances opposition LG Electronics Inc
announced a $250 million devise to build a bureau in
Tennessee.

Trump is set to horde South Korean President Moon Jae-in at
the White House on Jun 29-30 to allege mercantile cooperation
and plead ways of strengthening a dual countries’ “ironclad”
alliance, a White House pronounced this month.
(Reporting by Joyce Lee, modifying by Louise Heavens)

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