SEOUL, June 26 (Korea Bizwire) – Samsung Electronics Co. is expected to announce a plan to build a new production facility in the United States during President Moon Jae-in’s visit to Washington this week, industry sources said Monday.
“As Samsung’s plan to build a factory for home appliances is virtually fixed, it is likely the company will make it official when Moon is visiting the United States,” an insider said.
Moon will hold the two-day talks in Washington on Thursday and Friday (U.S. time) to touch on a host of outstanding issues. The chief executive will leave Wednesday for his first summit ever with a foreign leader.
Local business observers said Yoon Boo-keun, head of Samsung’s consumer electronics division, is likely to be present if the tech giant makes the investment announcement in the United States on the sidelines of the summit.
“The signing ceremony has not been finalized yet,” said a Samsung Electronics official, who declined to be identified. “Even if there is a ceremony, we need to consult with the government beforehand.”
The Wall Street Journal earlier reported that Samsung is considering Newberry, South Carolina, as the location of its new plant.