Gu Ja-yeol, Chairman of the Korean Martial Arts Association, Requests Georgia State Senator to Postpone IRA Implementation for Over 3 Years

Martial Arts, Meetings with Key Figures Including Georgia State Senators on the 11th-12th

Chairman Koo Ja-yeol of the Korea International Trade Association (right) met with U.S. Senator Jon Ossoff of Georgia (left) on the 11th (local time) to convey concerns from our industry regarding the U.S. IRA and exchanged handshakes.

[Asia Economy Reporter Park Sun-mi] Ku Ja-yeol, Chairman of the Korea International Trade Association (KITA), visited the state of Georgia in the United States and met with U.S. Senator Jon Ossoff of Georgia and Pat Wilson, Secretary of the Department of Economic Development, to convey the concerns of our industry regarding the Inflation Reduction Act (IRA) and requested a postponement of its implementation for more than three years.

According to KITA on the 12th, Chairman Ku met with Senator Jon Ossoff in Atlanta on the 11th local time and said, “The United States is Korea’s number one investment destination,” adding, “Since Korea plays a pivotal role in the U.S. advanced industry supply chain cooperation, please ensure that Korean companies operating in the U.S. do not face unfair discrimination.”

He further requested, “Considering that Korean companies such as Hyundai Motor are contributing to production and job creation through large-scale investments in Georgia and across the U.S., please actively explore options to postpone the implementation of the IRA by more than three years.” He also emphasized, “The IRA grants tax credit benefits only to North American electric vehicles, which may violate the Korea-U.S. Free Trade Agreement (FTA) and World Trade Organization (WTO) trade rules,” and stressed, “Korean electric vehicles, batteries, battery materials, and parts should receive the same treatment as U.S.-made products.”

On the same afternoon, he met with Pat Wilson, Secretary of the Georgia Department of Economic Development, dedicating time to emphasize the need for flexible application of the IRA policy. Chairman Ku said, “For smooth investment entry by our companies, not only good infrastructure but also the supply of skilled labor is very important,” and requested prompt and continuous policy support to ensure the timely construction of Hyundai Motor’s new electric vehicle plant.

On the second day of his visit to Georgia, he visited the Kia plant located in West Point and held a meeting with local automotive parts companies. At the meeting, Chairman Ku stated, “Over the past five years, our companies have announced a total of nine investments in the U.S. automotive original equipment manufacturer (OEM) sector, amounting to $7 billion,” and mentioned, “Georgia and Alabama, where Hyundai Motor and Kia have a high proportion of parts suppliers, serve as key bases for our companies’ entry into the U.S. market.”

He added, “The IRA and the Chips and Science Act (CSA) aim to strengthen the manufacturing ecosystem of core advanced industries such as electric vehicles, batteries, and semiconductors within the U.S.,” and noted, “Since these measures could be expanded to fields like biotechnology and robotics in the future, it is necessary to carefully re-examine the U.S. investment environment and laws.” Regarding the IRA, he also promised, “We will explore various ways to ensure that our industry’s opinions are reflected when the U.S. Treasury Department formulates detailed guidelines, and continue to persuade Congress, focusing on U.S. district lawmakers.”

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