2017.06.2900:38:00UTC+00Samsung to Invest $1.9 Billion in U.S. Plants

Samsung Electronics Co. announced investment plans worth $1.9 billion in two plants in the United States ahead of South Korean President Moon Jae-in's first summit with U.S. President Donald Trump.

The South Korea-based conglomerate is set to spend $1.5 billion on a semiconductor factory in Texas and will also build a $380 million plant in South Carolina for home appliances. According to statements from Samsung and South Korea's Chamber of Commerce, such investments are to be executed until 2020.

Samsung employs nearly 3,000 people in the Austin factory and has invested $17 billion since the plant started operation in 1998, according to the company. It has spent $1 billion in 2017 in order to raise its capacity to manufacture chips that power mobile devices and tablet computers.

The Newberry County, South Carolina site will manufacture home appliances which includes washing machines beginning early in 2018. It currently operates a call center in Greenville which supports 800 jobs.