▲ This file photo, provided by the foreign ministry, shows a meeting at the ministry in Seoul on Sept. 2, 2022, to discuss ways to counter the U.S. Inflation Reduction Act containing discriminative measures against South Korean-made electric vehicles. (PHOTO NOT FOR SALE) (Yonhap)

vice industry chief-US visit

S. Korea, U.S. to discuss Inflation Reduction Act, supply chains

SEOUL, Feb. 15 (Yonhap) -- South Korea's First Vice Industry Minister Jang Young-jin will visit the United States this week for talks on pending issues of mutual concerns, including follow-up measures of the U.S. Inflation Reduction Act (IRA) and cooperation on advanced industry sectors, his office said Wednesday.

During his three-day stay that begins Wednesday (U.S. time), Jang will meet with senior officials of the U.S. Commerce Department and the White House to discuss ways to enhance the bilateral partnership in semiconductors, batteries and other industry sectors, and to strengthen their cooperation on technology and supply chains, according to the Ministry of Trade, Industry and Energy.

Also on the table will be the IRA, which calls for giving up to US$7,500 in tax credits to buyers of electric vehicles assembled only in North America. The act has sparked concerns and controversy as Hyundai Motor and Kia Corp. could lose ground in the U.S. market, as they produce their EVs at domestic plants for export to the U.S.

South Korea has demanded changes to the law on EVs in a way that it does not discriminate against Korean automakers and battery producers, but the guidelines of the law released last year failed to take such demand into consideration. The U.S. government is expected to issue a final guidance next month.

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