Doosan Group, a major South Korean power equipment conglomerate, said it too will strengthen ties with USA counterparts to expand its presence in the us power equipment market.
Samsung Electronics Co. will be spending $380 million to establish a home appliance manufacturing base in SC of the United States that would first be turning out washing machines from early next year and creating 950 jobs over the next three.
"We aspire to be the global leader in premium home appliances", Samsung CEO B.K. Yoon said.
Samsung said that it had been contemplating an expansion of its USA operations for quite some time, out of the public eye.
The Newberry facility will make home appliances including washing machines starting early next year.
Home appliance preferences vary greatly by region and this facility will allow Samsung to more quickly and efficiently adapt to the high demands and regional needs of their largest, fastest growing home appliance market, according to a Samsung statement.
It's worth noting that Samsung's move isn't because of Trump's threats on taxes. According to Hyundai Motor, it is the biggest private fund for pediatric cancer in the US. The company has spent about $17 billion to operate a massive factory in Austin, Texas, to build semiconductors for use in phones and other devices, and it has partnered with GlobalFoundries on its chip factory in upstate NY.
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. Samsung also acquired audio supplier Harman for $8 billion and committed $1.2 billion to US-based R&D and investments for Internet of Things technology. Samsung already operates a call center in Greenville, South Carolina, that supports 800 jobs.
Samsung Electronics has announced it's opening a new manufacturing plant in Newberry County, South Carolina. If completed it will be the Korean tech giant's first home appliance plant in the U.S.
Jim Newsome, president and CEO of the S.C. Ports Authority, said Samsung's investment is "significant" to the Port of Charleston. "For almost 40 years, Samsung has steadily expanded our operations in the United States", said Tim Baxter, chief executive of Samsung Electronics America.
Samsung said Newberry was chosen for its abundance of skilled workers and good access to transportation.
Gov. Henry McMaster added the project is "one that will change the very fabric of the Newberry community".
The state's Coordinating Council for Economic Development also has approved job development credits for the project.