Samsung invests $ 380 million, almost 1000 jobs created

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.

The South Korean-based company is opening a "state-of-the-art" facility in the former Caterpillar plant in Newberry. 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. It is expected to begin operation in early 2018.

More than 950 jobs are making their way to Newberry County, as Samsung gears up to build a manufacturing plant in the area, the state Department of Commerce announced Wednesday morning.

The facility will produce some of Samsung's most popular and industry-leading home appliances, including washing machines.

In March Patently Apple reported that three Southern U.S. States were battling it out for Samsung's new $300 million dollar appliance plant. The signing ceremony has been timed with President Moon Jae-in's first state visit to the USA and summit with his US counterpart Donald Trump, but the electronics behemoth stressed that the plan had been long sought and was not motivated by Trump's American First agenda offering incentives for companies adding manufacturing jobs in the USA and punitive tariffs on imports deemed to hurt domestic industry.

"S.C. Ports Authority congratulates Samsung on their plans to establish operations in SC", said S.C. Ports Authority President and CEO Jim Newsome.

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The company said it chose Newberry because the area boasts excellent human resources along with sound transportation infrastructure.

Gov. Henry McMaster added the project is "one that will change the very fabric of the Newberry community". "Their announcement is very significant to the Port, and it reflects our ability to meet the global supply chain needs of major worldwide manufacturers".

An event was held Wednesday in Newberry to celebrate the announcement. "We are pleased to serve a company the size of Samsung through our Charleston facilities, and look forward to supporting their long-term success in our state".

Industry watchers said the latest investment projects are significant as U.S. President Donald Trump has been pushing toward protectionism, which centers on generating jobs inside the U.S. This stance has been viewed as a major source of concern for South Korean firms seeking business opportunities there.

Samsung employs over 18,500 people across the US, including 3,000 jobs in Silicon Valley and over 6,000 manufacturing and engineering job in Texas.

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