President Yoon Suk Yeol, right, chats with Tesla CEO Elon Musk during their meeting at the Blair House in Washington on April 26. [JOINT PRESS CORPS]
Korea may be chasing rainbows to attract Tesla’s so-called “gigafactory” with its subpar incentive plans and labor market conditions compared to contenders like Indonesia and Thailand.
With Tesla CEO Elon Musk putting up a few countries on his candidate list for a new gigafactory site, experts say that Korea has a slim chance of beating others unless it sharply cuts the corporate taxes and takes on the unions.
“Gigafactory” is a term Tesla uses to describe its large-scale manufacturing plant.
A senior Tesla…
