According to sources close to the company, the initial capital investment will total close to $300 million and will involve shifting some production from Mexico to the United States. The sources claim that the move could generate around 500 jobs.
Samsung, which is based in Seoul, South Korea, may increase manufacturing of home appliances such as refrigerators, washer, and dryers in the United States. According to The Wall Street Journal, the decision to move production to the United States was influenced by President Trump after he campaigned to move manufacturing jobs for products bought in the United States from overseas into this country.
The tech giant has engaged in initial discussions with several states, including Alabama, Georgia, North Carolina, Ohio and South Carolina. According to the sources, South Carolina is likely one of the strongest contenders for a Samsung manufacturing plant, which could specifically be located in Blythewood, S.C.
Samsung Vice Chairman Lee Jae-yong attended a meeting in December at Trump Tower with the then president-elect. Since that time, several large firms based in Asia have agreed to expand operations or invested into the United States.