This photo shows Second Vice Foreign Minister Lee Do-hoon at Incheon International Airport, west of Seoul, ahead of his departure for Washington on Sunday. (Foreign Ministry)
Second Vice Foreign Minister Lee Do-hoon left for Washington on Sunday for talks on the Inflation Reduction Act and other economic issues.
Lee plans to hold a session of the Senior Economic Dialogue with his US counterpart, Under Secretary of State for Economic Growth Jose Fernandez, and meet with other US administration and congressional officials.
"The IRA will be dealt with as the most important issue," Lee said before departure.
The IRA, signed into law by US President Joe Biden in August, gives up to $7,500 in tax credits to buyers of electric vehicles assembled only in North America, sparking concerns that Hyundai Motor and Kia Corp. could lose ground in the US market, as the two South Korean carmakers assemble their EVs at domestic plants for export to the US.
The SED is a regular consultation channel on economic cooperation between the South Korean foreign ministry and the US State Department. It has taken place six times since its establishment was agreed upon at a summit in October 2015.
Lee plans to return home on Wednesday. (Yonhap)
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