[Courtesy of Samsung]
Samsung Electronics Co. said it will invest US$380 million in the United States to set up new production facility and tap deeper into the North American country's large home appliances market. The South Korean tech giant said the investment will be made in Newberry County, South Carolina.
On Wednesday, Yoon Boo-keun, who heads Samsung's home appliance business, met Governor Henry McMaster of South Carolina to sign a letter of intent for the project, which is estimated to generate some 950 jobs.
Samsung has been considering building a new production facility in the US for the past three years. Sources say the company has been engaged in talks with South Carolina since the second half of 2016 to finalize the plan. The company said it chose Newberry because the area boasts excellent human resources along with sound transportation infrastructure.
Samsung plans to start production from the plant starting in the first half of 2018. Yoon said the latest investment will allow Samsung to expand its business in the US, adding the company will join forces with industry experts and other innovative companies based in the world's No. 1 economy.
(Yonhap)
reporter
Park Sae-jin
swatchsjp@ajunews.com
