Samsung is reportedly eyeing an old Caterpillar plant in Newberry, S.C., as the site of its first U.S. factory. The company is supposedly prepared to invest $300 million in retrofitting the facility, which would produce ranges that are presently made in Mexico. The move may be announced next week when the new South Korean President Moon Jae-in travels here to meet with President Trump. Samsung would follow in the footsteps of LG Electronics, which will begin making washers in Tennessee by 2019.The moves could help both Korean companies skirt Trump’s proposed border adjustment tax on their foreign-made products.
“Samsung Electronics invested about $300 million and is constructing production facility in Newberry, South Carolina. Previously LG Electronics also announced its plan to construct its factories in the U.S. These are their strategic moves to expand their dominance in American market, which is the biggest market in the world, by avoiding economic pressure that is becoming stronger ever since establishment of President Trump’s government.”