Goldberg, US Ambassador: "Seeking Solutions for Hyundai Issues Related to IRA"

Gwanhun Debate, Seeking Solutions to the Inflation Reduction Act
Seriously Considering Concerns Raised by Korean Companies and Government

[Asia Economy Reporter Yoo In-ho] Philip Goldberg, the U.S. Ambassador to Korea, stated on the 18th regarding the Inflation Reduction Act (IRA), which has sparked controversy over discrimination against Korean electric vehicles, that "we are seeking solutions to problems that may arise before the completion of Hyundai Motor Company's factory in Georgia, USA."

[Image source=Yonhap News]

At a Kwanhun Club invitation discussion held at the Seoul Press Center that morning, Ambassador Goldberg said, "The United States relies on Korean companies for battery and electric vehicle production," and added, "We are currently discussing and seeking solutions for the time gap that may occur between Hyundai's electric vehicle production and the completion of the Georgia factory."

He refrained from detailing the specific contents of the solution, saying, "I cannot speak about that here."

Regarding the IRA, Goldberg said, "We are taking seriously the concerns raised by Korean companies and the government," and "We are discussing how to resolve them."

He emphasized, "We do not want the securing and processing of minerals essential for electric vehicle battery production to be held hostage by economic coercion."

He added, "Korean companies producing batteries will be able to receive immediate and substantial benefits through the IRA."

Regarding concerns that the U.S. might impose various export controls and regulatory policies on key strategic items such as semiconductors and biotechnology to counter China, potentially causing a 'second IRA incident,' he emphasized national security objectives.

He cited the control of exports of artificial intelligence (AI) and military semiconductors to China, explaining that these were decisions made for national security reasons rather than economic or business considerations.

Ambassador Goldberg said, "All responsible countries, including the United States and its allies, recognize the need for certain restrictions on what we sell," adding, "Without such restrictions, we would face bigger problems later."

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