January 3, 2018 / 11:11 AM / 9 months ago

Samsung's U.S. washing machine factory to begin operations in January - executive

SEOUL (Reuters) - Samsung Electronics Co Ltd (005930.KS) plans to begin operating its new washing machine factory in the United States this month, a top executive said on Wednesday, as it awaits a U.S. government decision on curbing imports of washers.

The logo of Samsung Electronics is seen at its store in Seoul, South Korea, October 11, 2017. REUTERS/Kim Hong-Ji

The U.S. International Trade Commision recommended in November tariffs to keep Samsung and its home rival LG Electronics Inc (066570.KS) from flooding the U.S. market with inexpensive washers, a step that would benefit American appliance giant Whirlpool Corp (WHR.N).

Samsung said at the time that any tariffs would raise prices and impair job creation at its $380 million (£280 million) plant in South Carolina, which was announced in June to produce washing machines and other appliances.

U.S. President Donald Trump is expected to make a decision on the recommendation early this year.

When asked about whether the plant will begin operations this month, Samsung Electronics Vice Chairman Yoon Boo-keun confirmed the plan to reporters on Wednesday. He did not elaborate.

The plant, Samsung’s first U.S. appliances factory in more than three decades, was among a long list of investment pledges by global companies reacting to pressure from Trump to create more U.S. jobs.

Reporting by Joyce Lee; Editing by Muralikumar Anantharaman

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below