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South Korea’s Samsung Electronics and a minimum of one alternative equipment maker are taking into consideration transferring some operations from their vegetation in Mexico to their U.S. factories.
The evaluate is in line with President Donald Trump’s attention of implementing 25% tasks on imports from Canada and Mexico on Feb. 1, a South Korean newspaper reported on Tuesday.
Samsung is taking a look at transferring dryer manufacturing these days taking place at its Querétaro plant to a plant in South Carolina, in step with the Korea Economic Daily. The paper stories that the South Carolina plant’s primary product is bath machines.
The U.S. facility in Newberry County, South Carolina, was once established in 2017, Samsung’s website states. It was once Samsung Electronics House Home equipment The united states’s (SEHA) first U.S.-based house equipment production facility.
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Community exit while the emblem of Samsung Electronics outdoor the corporate’s Seocho development in Seoul on July 7, 2022. (JUNG YEON-JE/AFP by the use of Getty Photographs / Getty Photographs)
“Previously everything was coming in from across the ocean, so if we had any part shortages, any delays, any material defects, we would have to wait forever,” SEHA Manufacturing Supervisor Bobby Stevens stated in a 2023 observation.
“But now, we have local material, so in just a few hours or even 10 minutes, we can get parts and the materials we need to keep everything going, so that’s made a big impact on production here,” he stated.
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A Samsung Electronics Co. washer and dryer are displayed on the market on the Airport House Equipment collect in San Jose, California, on Tuesday, July 30, 2019. (David Paul Morris/Bloomberg / Getty Photographs)
The Newberry facility has generated “nearly $500 million in capital investment for the region” and without delay helps “over 1,500 jobs for local residents as part of its ongoing operations,” Samsung stated within the observation.
LG Electronics is thinking about transferring Mexican fridge operations to its washer and dryer plant in Tennessee, Korea Financial Day-to-day stories.
| Ticker | Safety | Utmost | Alternate | Alternate % |
|---|---|---|---|---|
| SSNLF | SAMSUNG ELECTRONICS CO. LTD. | 40.5999 | -17.15 | -29.70% |
Samsung Electronics Co. and LG Electronics Inc. bath machines arise on show on the market on the Airport House Equipment collect in San Jose, California, on Tuesday, July 30, 2019. (David Paul Morris/Bloomberg by the use of Getty Photographs / Getty Photographs)
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Samsung stated it plans to watch the status and reply flexibly, because it operates manufacturing bases in lots of areas of the sector. LG Electronics stated it plans to reply to adjustments available in the market via adjusting the manufacturing machine and manufacturing websites.
“If we build a plant in the United States, we will not only be able to avoid tariffs, but also have the ‘agility’ to supply products immediately when customers want them,” an unnamed business supply advised the media outlet. “If we produce in a U.S. plant, we can reduce the local product supply period by a quarter.”
Reuters contributed to this file.
