South Korea and the U.S. High-Level Diplomatic Channels Cross-Visit to Seek Solutions for the Inflation Reduction Act

Ministry of Foreign Affairs 1st and 2nd Vice Ministers Visit the US
Inflation Reduction Act Expected to Be Discussed During US Vice President Harris's Visit to Korea

[Asia Economy Reporter Yoo In-ho] The South Korean and U.S. governments are seeking solutions to the discrimination against Korean electric vehicles under the U.S. Inflation Reduction Act (IRA) through reciprocal visits following the Chuseok holiday.

According to diplomatic circles on the 12th, the first and second vice ministers of the Ministry of Foreign Affairs will visit the United States on the 15th. This is to persuade the U.S. amid the issue of discrimination against Korean electric vehicles under the IRA emerging as a major issue between South Korea and the U.S.

Cho Hyun-dong, First Vice Minister of Foreign Affairs, is speaking at the joint press conference of the Korea-US-Japan deputy foreign ministers held on the 8th at the Ministry of Foreign Affairs building in Jongno-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

Cho Hyun-dong, the first vice minister of the Ministry of Foreign Affairs, will hold a separate bilateral meeting with Wendy Sherman, U.S. Deputy Secretary of State, during his visit to Washington DC on the 16th (local time) to attend the Korea-U.S. High-Level Foreign and Defense Expanded Deterrence Strategy Consultation Group (EDSCG).

Vice Minister Cho oversees bilateral political diplomacy within the Ministry of Foreign Affairs. His channel with Deputy Secretary Sherman broadly discusses Korea-U.S. relations, the alliance, and regional and global issues.

Since the foreign authorities have launched full-scale diplomacy toward the U.S. in response to the IRA and this issue is already affecting Korea-U.S. relations, it is expected to be an important topic at this vice ministerial meeting.

At this meeting, they plan to raise the issue, fully convey South Korea’s concerns, and urge the U.S. side to take prompt action.

The following week, Lee Do-hoon, the second vice minister who directly handles economic diplomacy at the Ministry of Foreign Affairs, will depart for the U.S. to discuss the IRA issue. Visiting New York and Washington DC, Vice Minister Lee is scheduled to meet Jose Fernandez, U.S. Deputy Secretary of State for Economic Affairs, to discuss the IRA issue in depth.

Vice Ministers Lee and Fernandez serve as chief representatives of the Korea-U.S. Senior Economic Dialogue (SED), a high-level channel for discussing bilateral economic cooperation issues, allowing for in-depth discussions on the IRA issue. Vice Minister Lee is also expected to meet relevant U.S. congressional figures to convey the government’s concerns.

[Image source=Yonhap News]

U.S. Vice President Kamala Harris is scheduled to visit South Korea on the 29th to meet President Yoon Suk-yeol and discuss ways to strengthen Korea-U.S. relations. At this meeting, they plan to exchange views on mutual interests including the IRA issue, North Korea, economic security, and major regional and international issues.

Accordingly, the South Korean government and diplomatic circles expect this to create an opportunity to resolve economic security crises such as discrimination under the Inflation Reduction Act and supply chain restructuring.

Above all, the strong Korea-U.S. alliance is expected to gain momentum through Vice President Harris’s visit, addressing the IRA discrimination issue, which has been pointed out as a recent source of friction.

President Yoon and the South Korean government are expected to convey to Vice President Harris their concerns about Korean electric vehicles being excluded from subsidies in the U.S. market due to the IRA implementation, along with the need for legislative amendments.

This content was produced with the assistance of AI translation services.