South Korea’s Yoon ready to offer ‘tailored’ benefits to attract Tesla gigafactory

South Korea will offer “tailored” incentives to encourage Tesla to set up an electric vehicle gigafactory in the country and will minimize any risks posed by militant unions, President Yoon Suk-yeol told Reuters. | Reuters

“We are preparing a tailored approach to grant some advantages to these specified companies,” Yoon said through an interpreter, when asked about what advantage South Korean can offer to Tesla over other locations being mentioned.

Yoon credited his government’s tough response to labor union strikes this year for starting the process of establishing a rule of law in industrial relations for both management and labor. About 9,600 truckers have joined the strike organized by the truckers’ union, demanding a permanent guarantee of a minimum freight rate to protect against rising and unpredictable fuel costs and overwork.

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