3/30, 11:15 AM (Source: TeleTrader)
more TeleTrader news

Yoon asks Tai to address S. Korea's US acts worries

South Korean President Yoon Suk-yeol asked United States Trade Representative (USTR) Katherine Tai to address his country's concerns regarding the Inflation Reduction Act (IRA) and the Chips and Science Act during their meeting earlier in the day, his spokesperson Lee Do-woon told the media on Thursday.

According to the spokesperson, Tai said the US takes South Korea's worries seriously and expressed President Joe Biden's administration's hopes the two countries can build a resilient supply chain.

The same request was made by South Korean Trade Minister Ahn Duk-geun, who met with Tai before Yoon to discuss the two nations' cooperation on semiconductors and electric vehicles (EVs). Seoul's concerns include the possibility of South Korean companies' operating under the Chips and Science Act data leaking, and the carmakers, such as Hyundai Motor Co. and Kia Corp., losing out on their position in the US markets.

Baha Breaking News (BBN) / JR