9/1/2022, 11:25 AM (Source: TeleTrader)
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Seoul: US agrees to study IRA impact on SK car firms

The United States promised to review the potential impact of its recently approved Inflation Reduction Act (IRA) on South Korea's carmaking industry, the latter country's National Security Advisor Kim Sung-han told reporters on Thursday.

Following the trilateral meeting with his US and Japanese counterparts Jake Sullivan and Takeo Akiba in Honolulu, Kim stated that Washington's official promised his country "will take a detailed look at how the EV [electric vehicles] subsidy issue will pan out going forward, and what impact it will have."

Seoul previously expressed its desire to discuss the act with the US, saying that the bill contains "the discriminative measures against electric vehicles from South Korea, an ally and partner in a free trade agreement" and describing it as "unfair."

Baha Breaking News (BBN) / JR