By 2020, more than 1,000 factory jobs will return to a manufacturing plant based in Newberry, South Carolina, thanks to Samsung, a South Korean company.
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Six months ago, the tech behemoth announced the hiring of 500 people to make new washing machines at the Newberry plant, which used to house Caterpillar, the company that mass-produced machinery and engines. By 2020, the company has said it anticipates it will hire more than 1,000 people. So why is the Seoul-based giant investing in the U.S.?
“Samsung’s got a long history in the U.S.,” Samsung North America CEO and President Tim Baxter told FOX Business’ Liz Claman. “We have 20,000 employees in the United States. And our home appliance business is the fastest growing business we have. We’ve achieved number one brand share in that.”
According to Reuters, Samsung plans to begin operations at its new plant this month as top executives wait on a tariff decision by the federal government. Production is set to begin on Friday, Baxter said.
Samsung has overtaken all other manufacturers in the U.S., becoming the most popular washing machine producer in the country.
“What we focus on, more than anything else, is creating demand, creating jobs and creating new experiences for consumers,” he said. “And that’s something we’re really excited about.”