South Korean President Yoon Seok-yeol and Tesla CEO Elon Musk held a meeting on Wednesday during Yoon’s state visit to the United States, discussing the potential for a Tesla gigafactory in South Korea and further cooperation with Musk’s space venture, SpaceX, reports The Korean Herald.
According to Senior Presidential Secretary for Economic Affairs Choi Sang-mok, President Yoon highlighted South Korea’s strengths, stating, “South Korea boasts world-class manufacturing robots and an advanced labor force, making it an ideal location to run a gigafactory.”
Yoon assured Musk that if Tesla were to invest, the South Korean government would “provide active support in terms of location, workforce, and taxes.”
In response to Yoon’s proposal, Musk expressed his interest in South Korea, saying, “The country remains an interesting and leading candidate to host a gigafactory.” He also indicated his plans to visit South Korea to explore the possibility further.
President Yoon also addressed the potential for collaboration between South Korean businesses and SpaceX, Musk’s U.S. spacecraft company. Yoon emphasized the value of such partnerships in fostering the development of South Korea’s space industry, demonstrating the nation’s commitment to becoming a key player in the global technology sector.
Earlier this month, Tesla launched Model S and Model X deliveries in South Korea.