Reports: Samsung plans to build facility in U.S.
Tech giant reportedly discussing proposals with at least five states.
Samsung Electronics plans to expand its manufacturing operations in the U.S. with a new facility for home appliances, according to media reports.
The South Korea-based technology giant expects to spend at least $300 million on the project and is discussing the plans with at least five states, the Wall Street Journal reported, citing unnamed sources.
The shift could involve moving some of the production of oven ranges to the U.S. from Mexico and could generate about 500 jobs, according to the newspaper.
“This is a complex process that, like all strategic business decisions, will not be made final until it is determined through proper due diligence and planning that it is the best option for Samsung,” Samsung said in a written statement.
A Samsung representative in the U.S. wouldn’t comment beyond confirming the talks and said the company started reviewing options in the country early last fall.
The election of President Donald Trump influenced Samsung’s interest in a U.S. factory, according to the sources cited by the Journal.
Trump campaigned on a promise of creating jobs in the U.S. and bringing back manufacturing, and has threatened to impose stiff tariffs on imports.
Samsung’s de facto chief Jay Y. Lee was the only executive from a foreign company invited to a tech industry meeting Trump held in December, the Journal reported.
Lee was not present at the meeting. He has been embroiled in a corruption scandal in South Korea since late last year and was indicted in February on bribery and embezzlement charges.
The U.S. is one of the biggest markets for Samsung, which makes everything from smartphones to processing chips, refrigerators and televisions.
The company also has major operations in Austin. Samsung said in November it plans to invest more than $1 billion this year in its semiconductor facilities in Austin, bringing the total investment to $17 billion at the site.
Samsung employs about 3,000 people in Central Texas.