Samsung to expand US reach with $300 million appliance factory

The move to invest in a new plant comes timely amidst worries of the Trump administration following through with threats of imposing import taxes.

South Korea-based tech giant Samsung is in talks to further expand US reach by investing $300 million on a home appliance factory, reports say.

According to the Korea Economic Daily, the plant, which will primarily manufacture home appliances such as washing machines and gas oven ranges, will be built in Blythewood, South Carolina. Samsung is expected to finalize the deal later this June, with the factory scheduled for construction and completion by 2019. Sources, however, were left unnamed in the local newspaper.

Samsung's new plant in the US is a win-win for both countries, as it will pave the way for more manufacturing jobs in the US, and at the same time reinforce Samsung's brand and reach more consumers through various lines of home appliances. This move is seen as a response to allay Trump administration's warnings of imposing import taxes for foreign goods, and it seems that this has resulted in other foreign companies following suit. LG Electronics has announced plans to build a $250 million home appliance factory in Tennessee.

A global manufacturer of consumer electronic products and appliances, Samsung is considered as one of the biggest foreign investors in the US. Last November, it has announced to put in another billion in its $17 billion semiconductor plant, which is based in Austin, Texas.