[THE INVESTOR] Samsung Electronics is expected to announce its plans to build a new production facility in the US during President Moon Jae-in’s visit to Washington this week, industry sources said June 26.
“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 June 29-30 to touch on a host of outstanding issues. The president will leave on June 28 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 US on the sidelines of the summit.
The Wall Street Journal earlier reported that Samsung is considering Newberry, South Carolina, as the location of its new plant.
By Alex Lee and newswires (email@example.com)