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US Reiterates Commitment to Maintaining Open Channels with S. Korea on Inflation Reduction Act

Written: 2022-09-21 09:16:56Updated: 2022-09-21 11:18:10

US Reiterates Commitment to Maintaining Open Channels with S. Korea on Inflation Reduction Act

Photo : YONHAP News

A senior official of the U.S. Department of State has reaffirmed the U.S.’ commitment to maintaining open channels of communication with Seoul as it seeks to prevent the exclusion of South Korean-made electric vehicles from tax incentives under the U.S. Inflation Reduction Act. 

According to a press release by the U.S. State Department, Under Secretary for Economic Growth, Energy and the Environment Jose Fernandez conveyed the message to South Korea's vice foreign minister Lee Do-hoon on the sidelines of the UN General Assembly in New York on Tuesday.

The two officials recognized the joint economic prosperity brought about by the strength of the South Korea-U.S. economic relationship, and Fernandez noted the positive effect South Korean investments in the U.S. have on the allies’ economic partnership and their ability to confront shared challenges.

The under secretary specifically highlighted South Korea’s growing U.S. investments in clean energy technologies, which support the allies' shared goals for economic prosperity, clean energy, and supply chain resiliency.

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