Samsung Electronics' (005930.KS) US subsidiary is relocating its headquarters from New Jersey to Texas.
According to industry sources Monday, Samsung Electronics has decided to move its US headquarters in Englewood Cliffs, New Jersey, to Plano, Texas, within this year. The company recently informed its US employees of the plan, sources said.
The relocation marks another change in just one year. Samsung's US subsidiary moved its headquarters from Ridgefield Park, New Jersey, to nearby Englewood Cliffs last year.
About 1,000 employees currently work at the Englewood Cliffs headquarters. Apart from some staff who will handle local office operations, most employees are expected to be reassigned to the new Plano office.
Plano currently hosts an office overseeing the US subsidiary's mobile and network businesses. Samsung Electronics also operates a semiconductor plant in nearby Austin, Texas. In Taylor, final preparations are underway for a cutting-edge foundry plant targeting operation within this year.
The headquarters relocation is interpreted as a decision to strengthen ties with these key business hubs and enhance synergy across the company's overall US operations. The move is also seen as driven by Texas offering greater tax benefits and lower real estate-related costs than other regions.
In the United States, a growing number of so-called Big Tech companies are relocating to Texas. Since 2020, Tesla and Oracle have moved their headquarters to Texas, and global Big Tech firms have continued to expand their presence in the region.
"We are making preparations with the goal of relocating within this year," a Samsung Electronics official said. "The headquarters' operating method and staffing plans will be finalized after thorough review."
