South Korea’s Samsung Electronics Co yesterday said that it is considering building a factory to make household appliances in the US as various industries brace for potential protectionist trade policies under the administration of US President Donald Trump.
A spokeswoman for Samsung said the plans were “purely in the evaluation stage” and no decisions have been made.
She did not want to be named, citing office rules.
Photo: EPA
Samsung also said in an e-mailed statement that it continues to assess “new investment needs in the US.”
The news drew the attention of Trump, who tweeted: “Thank you, (at)Samsung! We would love to have you!”
Most Samsung televisions, refrigerators and other household appliances sold in the US are made in Mexico.
A spokesman from LG Electronics Co, another South Korean technology company, said it is also considering building a manufacturing plant in the US and will decide on the matter within the first half of the year.
Other manufacturers in Asia’s export-oriented economies are also rushing to announce investment plans in the US.
Luggage maker Samsonite International SA said on Thursday last week that it was considering relocating some of its manufacturing to the US, while Hon Hai Precision Industry Co (鴻海精密) chairman Terry Gou (郭台銘) said on Jan. 22 that the world’s largest contract electronics maker might set up a display-making plant in the US.
Jack Ma (馬雲), executive chairman of Alibaba Group Holding Ltd (阿里巴巴), the Chinese e-commerce giant, met Trump on Jan. 10 and laid out a plan to bring 1 million small US businesses onto its platform to sell to Chinese consumers over the next five years.
Japanese automaker Toyota Motor Corp on Jan. 9 announced a US$10 billion investment plan in the US over the next five years.
Additional reporting by Reuters
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