South Korean President Yoon and Tesla CEO Elon Musk met in the US at Musk’s request during Yoon’s six-day state visit. Yoon encouraged Tesla to consider building a gigafactory in South Korea, touting the country’s cutting-edge industrial robots and highly skilled workers. Yoon also promised to actively support Tesla in terms of location, human resources, and tax incentives if the company decides to invest in the country.
Musk expressed that South Korea is one of the top candidates for Tesla’s Gigafactories, and he intends to visit the Asian country in the future. While Tesla did not immediately respond to requests for comment, Yoon has been actively pursuing Tesla’s investment in the country. In November of last year, Yoon stated that the South Korean government would offer tailored incentives and minimize union risks to encourage Tesla’s investment.
While Tesla announced in March that it will build a new factory in Mexico, which will be its first plant outside of the United States, Germany, and China, Canada and Indonesia have also been cited as potential candidates for the new factory. The meeting between Yoon and Musk is seen as a promising development for South Korea’s efforts to attract foreign investment and expand its high-tech industries.