Published: Fri, June 30, 2017
IT | By Jonathon Greene

Samsung Invests $1.9 Billion in US Ahead of Trump-Moon Summit

Samsung Invests $1.9 Billion in US Ahead of Trump-Moon Summit

In 2016, Caterpillar announced the closure of the Newberry plant and another facility in Ridgeway that resulted in loss of 400 jobs in the state.

Samsung is investing $380 million in a new facility to manufacture new appliances. "Premium home appliances" made at the plant will include washing machines and will be sold primarily in the United States, the company said in a news release. The company has a call center in Greenville County that supports jobs for 800 full-time and contract employees.

According to the Korea Chamber of Commerce and Industry, which was responsible for selecting the companies that traveled with Moon, the investment will include building production plants and expanding manufacturing facilities in the USA, investing in research and development of future technologies and mergers and acquisitions with us companies. When the factory is up and running, it will employ workers in various roles, including craftsmen, operators, engineers and other technical and nontechnical positions. Its Galaxy Note 7s had to be recalled after they started catching fire, and its top-load washing machines were recalled after consumers reported that appliance lids were detaching unexpectedly mid-wash. Over the last 40 years, the company's US subsidiary has steadily expanded its footprint in the USA, creating thousands of high-skilled jobs and investing in cutting-edge manufacturing. "With this investment, Samsung is reaffirming its commitment to expanding its USA operations and deepening our connection to the American consumers, engineers and innovators who are driving global trends in consumer electronics". President Donald Trump caught wind of Samsung's deliberations in February, thanking the company and asserting that the USA would "love to have you".

"Samsung's investment is great news for SC 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", said United States Commerce Secretary Wilbur Ross.

"The new government will do its best to resolve the North Korean nuclear issue from the foundations of the firm Korea-US alliance", Moon said. "We would love to have you!"

The South Carolina commerce department said it approved job development credits for the project by the South Korean technology giant.

Samsung's decision "is one that will change the very fabric of the Newberry community", McMaster said. It said it selected Newberry County "for its high-skilled workforce, robust supply chain and transportation infrastructure and commitment to public-private partnerships".

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