"Advantages" for Tesla and Co: South Korea ensnares Elon Musk

Should Elon Musk consider investing in South Korea, he can be assured of support from the very top.

"Advantages" for Tesla and Co: South Korea ensnares Elon Musk

Should Elon Musk consider investing in South Korea, he can be assured of support from the very top. President Yoon Suk Yeol promises a "tailor-made approach" in the event of the construction of a Tesla plant. The unions that are willing to go on strike are also not a problem.

South Korea wants to use special incentives to get Tesla to build a gigafactory in the country. "If Tesla, Space X or any other company considers further investments in Korea, including building a gigafactory, the government will do its best to support the investments," President Yoon Suk Yeol said.

South Korea offers a highly skilled workforce and its government will ensure that international standards are met so that foreign companies do not face unexpected financial or regulatory hurdles.

Yoon held a video call with Tesla CEO Elon Musk last week. According to the head of state's office, Musk said South Korea was one of the top candidates for a new Tesla factory. "We are preparing a tailored approach to provide some benefits to the named companies," Yoon said through an interpreter when asked what advantages South Korea could offer Tesla over other named locations.

Yoon announced that he would also minimize any risks posed by militant unions. "Militant union culture is a serious problem in South Korean society," Yoon said, referring to the truck drivers' recent strike. South Korea has had an average of 39 days of work stoppages per year over the past decade due to labor disputes, almost five times the United States' eight days and almost 200 times Japan's (0.2 days) as of Data from the Korean Business Association.