SEOUL, Sept. 23 (Yonhap) — A senior South Korean government official has reiterated Seoul’s concerns over the negative impact of the U.S. Inflation Reduction Act (IRA) on Korean automakers during a series of meetings with a White House official and members of Congress, his office said Friday
Second Vice Foreign Minister Lee Do-hoon met with White House Indo-Pacific Coordinator Kurt Campbell in Washington, D.C., on Wednesday and discussed the issue.
The IRA, signed by President Joe Biden last month, has raised concerns over a trade barrier for Korean automakers as they make EVs at domestic plants for export to the U.S. Hyundai Motor Group earlier this year announced over $10 billion in U.S. investments, but its EV plant in Georgia is expected to begin production in 2025.
Campbell said the Biden administration will push for “constructive cooperation” regarding the issue on the basis of the strong alliance between the two nations, the ministry said without giving further details.
Lee also held back-to-back talks with Georgia Sen. Jon Ossoff, Rep. Darin LaHood (R-IL) and Rep. Young Kim (R-CA), in which he pointed out “discriminatory” elements in the IRA and requested their related attention and cooperation to address the problem, it added.