Earlier today Patently Apple posted a report titled "Samsung Signs Deal for new Appliance Plant in South Carolina" that will be worth $380 million. In the big picture, Samsung's investment was only one of many deals coming to the U.S. from South Korea. Over the next five years, the Nikkei reports that the total investment in the U.S. will be $12.8 billion.
According to the Nikkei, "South Korean companies will pour $12.8 billion into U.S. ventures over the next five years, top executives announced here Wednesday, handing President Moon Jae-in powerful leverage going into his first talks with counterpart Donald Trump.
After arriving in the U.S., Moon attended a U.S.-South Korean business summit at the U.S. Chamber of Commerce, accompanied by executives representing 52 companies. He sat flanked by corporate VIPs, including SK Holdings Chairman Chey Tae-won, Hyundai Motor Vice Chairman Chung Eui-sun and LG group Vice Chairman Koo Bon-joon.
SK said it would partner with U.S. companies General Electric and Continental Resources in shale gas exploration and production. The South Korean company will invest a maximum of $4.4 billion over five years. The company will also start importing U.S.-produced liquefied natural and petroleum gases in 2020.
The Korean corporate titans apparently aimed their show of cooperation to help repair what has been a strained relationship with Moon since he took office in May. Wednesday's U.S. Chamber of Commerce event was the president's first meeting with them since his inauguration." For more read the full report here.
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