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

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

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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