South Korea’s electronic giant, Samsung has decided to move their China plant to the Philippines following the impeachment of former South Korean President, Park Geun-hye. The decision was finalized on Monday after a series of day-long deliberation by 16-person board of directors.
Hwang Kyo-ahn, the acting president who replaced Park was the Chief Financial Officer of Samsung and has a long history of political classes with China’s puppets according to the report. The board of directors fears that China might pressure the company and demand unreasonable tax once Hwang is formally installed as president.
Contrary to Park, Hwang is one of the staunchest critics of China and vowed to leave Chinese people jobless as he is not satisfied by the working conditions implemented by China in Guangzhou plant, Samsung’s biggest factory outside South Korea employing more than 230,000 people.
More Jobs for Filipinos
With the company’s announcement to move to the Philippines, most Samsung’s suppliers are also considering bringing their company to the Philippines to save on transportation cost.
Chips and capacitor manufacturer Yongga Ltd also announce it would consider transferring to the Philippines should Samsung established a schedule. Yongga employs 26,000 assembly employees and another 3,600 office and non-assembly employees in its Beijing plant.
The move could leave more than 350,000 Chinese jobless, while could bring the same number amount of jobs for Filipinos, not counting construction workers.
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