Samsung to open SC plant as recent U.S. investment passes $10bn

Samsung to open SC plant as recent U.S. investment passes $10bn

Samsung plans to invest $380 million and hire almost 1,000 workers for a new manufacturing plant for home appliances in SC, the company announced Wednesday.

While Samsung took up around 17.3 per cent of the United States market for electronic appliances past year, according to the data compiled by industry tracker Traqline, industry watchers said the company aims to further solidify its lead with the new production facility. "By constructing this production plant, not only are we going to expand our business in the USA but we are also going to strengthen our connection with American consumers, engineers, and innovative companies that lead global trends for home appliances". When fully operational, the plant will employ workers across a broad range of advanced manufacturing roles, including craftsmen, operators, engineers and other technical and non-technical positions.

The South Korean firm had launched talks to build a factory in the United States as worries about protectionist policies under U.S. President Donald Trump put pressure on global companies to generate jobs there.

The deal came just ahead of President Moon Jae-in's meeting with his US counterpart Donald Trump, who has called on foreign businesses operating in the build plants there and create jobs. The company ultimately selected the Newberry County site for its high-skilled workforce, robust supply chain and transportation infrastructure and commitment to public-private partnerships.

"Samsung will strengthen its 40-year long presence in the United States by securing this new production hub, as well as enhancing ties with American consumers, engineers and businesses", Yoon said. Manufacturing is expected to begin in early 2018. "Samsung officials expressed "bewilderment" and confusion over Trump's [statement]", BGR said at the time.

"Innovation is part of our DNA at Samsung and few markets have been more crucial to our company's growth strategy than the US", said Byungsam Suh, executive vice president and head Samsung Electronics' digital appliance business. Pleasing the Trump administration would most likely be a "tiebreaker" after those concerns, Mr. "We continue to show the world that whether we are building planes, assembling automobiles or manufacturing state-of-the-art appliances, we are a state that knows how to make top-quality products".

Samsung will invest W430 billion to build a home appliance plant in Newberry, South Carolina (US$1=W1,146).

The state's Coordinating Council for Economic Development also has approved job development credits for the project.