Elon Musk, CEO of Tesla and Yoon Suk Yul, President of South Korea met on Wednesday in Washington to discuss investments from Tesla into South Korea including potential gigafactory construction plans.
Musk and President Yoon have not been the only two individuals to discuss whether or not a Tesla megafactory should be built in South Korea. President Yoon's executive office confirmed via video call in late November 2022 that they had discussed Tesla. At that time, no location for its next gigafactory had yet been disclosed but it was obvious another electric vehicle plant would soon be announced by Tesla; eventually Gigafactory Mexico was established.
President Yoon, of South Korea, appears unaffected by Tesla's announcement about Giga Mexico. Elon Musk spoke with Yoon about what South Korea can offer Tesla; he suggested it would make an excellent location to build one of Tesla's megafactories due to having highly-skilled workers and industrial robots on hand.
President Yoon offered Tesla tax incentives as part of his offer of tailored support to companies investing in South Korea last year.
President Yoon announced that South Korea would do everything possible to encourage investments from Tesla, SpaceX or any other companies looking to make larger investments here, such as building gigafactories. She stated: "We are working on tailoring solutions specifically tailored for these specific companies."
South Koreans appear to be on board with President Yoon's initiatives, with retail investors purchasing $2.8 billion of Tesla stock prior to December 27th 2022, according to Korea Securities Depository figures. Day traders also contributed with $160 Million being purchased before that date despite its decrease at that time.
Musk and President Yoon have not been the only two individuals to discuss whether or not a Tesla megafactory should be built in South Korea. President Yoon's executive office confirmed via video call in late November 2022 that they had discussed Tesla. At that time, no location for its next gigafactory had yet been disclosed but it was obvious another electric vehicle plant would soon be announced by Tesla; eventually Gigafactory Mexico was established.
President Yoon, of South Korea, appears unaffected by Tesla's announcement about Giga Mexico. Elon Musk spoke with Yoon about what South Korea can offer Tesla; he suggested it would make an excellent location to build one of Tesla's megafactories due to having highly-skilled workers and industrial robots on hand.
President Yoon offered Tesla tax incentives as part of his offer of tailored support to companies investing in South Korea last year.
President Yoon announced that South Korea would do everything possible to encourage investments from Tesla, SpaceX or any other companies looking to make larger investments here, such as building gigafactories. She stated: "We are working on tailoring solutions specifically tailored for these specific companies."
South Koreans appear to be on board with President Yoon's initiatives, with retail investors purchasing $2.8 billion of Tesla stock prior to December 27th 2022, according to Korea Securities Depository figures. Day traders also contributed with $160 Million being purchased before that date despite its decrease at that time.
