Democratic Party Urges Yoon to Resolve U.S. Discrimination Against Korean EVs During Overseas Trip

Kim Sung Hwan: "If Discrimination Is Not Corrected This Year,
Domestic EV Subsidy Rules Will Be Revised"

Park Honggeun, floor leader of the Democratic Party of Korea, is attending the 1st meeting of the Presidential Office-related Allegation Investigation Team held at the National Assembly on the 14th and delivering an opening remark. Photo by Yoon Dongjoo doso7@

[Asia Economy, reporter Park Juni] Park Honggeun, floor leader of the Democratic Party of Korea, urged President Yoon Suk-yeol, who is set to embark on an overseas trip starting on the 18th, that "tangible results are more desperately needed than ever." The Democratic Party's floor leadership pointed out that Korean-made electric vehicles are being discriminated against due to the implementation of the U.S. Inflation Reduction Act (IRA), and emphasized that these issues must be raised during the president's trip.

At a policy coordination meeting held at the National Assembly on the morning of the 15th, Park stated, "There are growing concerns that the recent U.S. Inflation Reduction Act and the executive order on domestic bio manufacturing will deal a fatal blow to Korea's electric vehicle and bio industries."

He continued, "Is the Yoon administration's diplomacy merely a stopgap, just patching things up for today like Oh Dae-soo, or is it the dangerously erratic 'zigzag' diplomacy of an administration that has no thorough strategy or plan and changes course from one day to the next? Despite emphasizing a pro-U.S. stance from the beginning of his term, even at the risk of backlash from China, President Yoon ended up snubbing Nancy Pelosi, the third in line in U.S. protocol, during her visit to Korea."

He added, "While talking about preemptive strikes and maintaining a hardline stance against North Korea, the administration suddenly rolled out conciliatory measures such as the so-called 'bold initiative,' opening up broadcasting, and family reunions. Amid this flip-flopping diplomatic policy, the U.S. blindsided us with the Inflation Reduction Act, while North Korea mocked us for having delusional ambitions. As a result of this irresponsible, stopgap diplomatic and security policy, it is the people and businesses who are left to deal with the consequences."

Park stressed, "Since working-level visits to the U.S. have repeatedly yielded nothing, this presidential trip must serve as a means to secure the national interest."

Kim Seonghwan, Chairman of the Policy Committee of the Democratic Party of Korea, is attending the Policy Coordination Meeting held at the National Assembly on the 15th and delivering opening remarks. Photo by Yoon Dongjoo doso7@

Sung Hwan Kim, Policy Committee Chairman, also urged President Yoon, "During this U.S. trip, I hope you will make it clear to the U.S. that the Inflation Reduction Act is a blatant violation of WTO agreements and the Korea-U.S. Free Trade Agreement (FTA), and return having resolved the issue of discrimination against Korean electric vehicles."

He added, "If the U.S. does not correct its discrimination against Korean electric vehicles, we will have no choice but to take corresponding measures against U.S. electric vehicles like Tesla. The Republic of Korea is not a global pushover."

Kim stated, "If the U.S. does not resolve the discrimination against Korean cars within this year, I hope the Korean government will negotiate with the U.S. with the determination and plan to revise domestic EV subsidy regulations and respond with 'an eye for an eye, a tooth for a tooth.' If the ruling party does not take active measures, the Democratic Party will correct this during the regular National Assembly budget review process," he emphasized.

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