Samsung to invest $500 million in Mexico, foreign minister says

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FILE PHOTO: The logo of Samsung Electronics is seen at its headquarters in Seoul

(Reuters) – Samsung Electronics will invest $500 million in Mexico in order to increase production of home appliances in the country, Mexican Foreign Minister Marcelo Ebrard said on Monday.

On Twitter, Ebrard said the investment will be in the northern border city of Tijuana and Queretaro in central Mexico. He said he had met with the company’s Chief Executive, Han Jong-Hee.

(Reporting by Carolina Pulice)