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Samsung Signs Deal to Build US Home Appliance Plant

30 June 2017

"This new investment will enable Samsung to increase the speed with which we can deliver premium home appliances that reflect the regional preferences of our fastest growing and most important consumer market", said Yoon Boo-keun, president of Samsung Electronics' consumer electronics division.

Doosan Group will invest $790 million in expanding its US plant as well as on research and development of next generation goods like fuel cells.

The company already operates a call center in Greenville County, which employs 800 people.

The investment is expected to generate 954 local jobs by 2020, including engineers and craftsmen, the Wall Street Journal reports, citing a company statement.

Earlier this year Samsung and LG were slapped with heavier duties on charges of dumping the prices of washing machines that were manufactured in China.

Samsung Electronics had examined locations in the USA since 3 years ago in order to prepare basis for continuous growth in the US, which is an important market for home appliance business.

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Company officials began considering expanding its USA production almost three years ago and launched talks with SC officials last fall, the company said.

Samsung Electronics signed off on a LOI (Letter of Intent), which lists information regarding construction of production plant for Samsung Electronics' home appliances, with South Carolina Government at Willard Hotel located in Washington D.C. on the 28th (U.S. time).

The chamber said that the investment will go into building factories, expanding production facilities, research and development on developing future technologies as well as mergers and acquisitions. "With this investment, Samsung is reaffirming its commitment to expanding its US operations and deepening our connection to the American consumers, engineers and innovators who are driving global trends in consumer electronics". President Donald Trump in February tweeted a report that Samsung planned to expand in the USA and said, "Thank you, @Samsung!" The plant will create more than 950 jobs over three years.

At the event held in Washington DC, Moon said that the Korea-US alliance has grown from one focused on security to include economic issues, and has become stronger in the process.

The board of Santee Cooper, South Carolina's state-owned utility, approved a $2.75 million grant for Samsung on Monday, said spokeswoman Mollie Gore. "We are excited to put even more USA engineering power behind our products and look forward to a mutually beneficial partnership with the people of SC".

Samsung said it chose the Newberry site for its workforce, supply chain and access to transportation.

Samsung Signs Deal to Build US Home Appliance Plant