Magnesium (Mg) alloys have promising potentials for lightweight and biomedical applications. Although there has been a recent interest in producing Mg alloys (including AZ, ZK and WE series) using additive manufacturing (AM), the process-structure-corrosion properties relationships in AM Mg alloys are yet to be understood. Herein, the production of Mg alloy WE43 was achieved by selective laser melting (SLM). The alloy was investigated after SLM, hot isostatic pressing (HIP) as well as an additional solutionising heat treatment. Specimens were carefully characterised, whilst assessed and contrast relative to the conventionally cast alloy counterpart. Characterisation included detailed microstructural analysis employing analytical transmission electron microscopy, X-ray mapping, and electron backscatter diffraction, which revealed the SLM prepared specimens possess a unique microstructure comprising fine grains growing with a strong [0001] texture along the building direction. The SLM prepared specimens also revealed a low fraction of process-induced and metallurgical defects, reaching < 0.1% after optimising the SLM parameters and HIP treatment. The SLM prepared WE43 was found to be cathodically more active relative to the cast WE43 because of a fine distribution of zirconium-, yttrium- and oxygen-rich particles as well as the alterations in the chemical composition of the solid-solution matrix originating from the high cooling rates of SLM. It was revealed that the oxide particles were mainly sourced by powder and thus it is hypothesised that the corrosion of SLM prepared Mg alloys could be greatly improved once the influence of powder characteristics is further understood and controlled.