South Korea and the U.S. are set to hold senior-level talks on economic security issues that are likely to include discussions on the exclusion of South Korean automakers under the U.S. Inflation Reduction Act(IRA).

Seoul's foreign ministry said Friday that second vice minister Lee Do-hoon and State Department Under Secretary Jose Fernandez will lead the seventh Senior Economic Dialogue scheduled in Washington next month.

The two sides are expected to discuss a range of economic issues of mutual interest, such as supply chains and the IRA, as the meeting comes on the heels of the U.S. midterm elections.

Boht senior officials attended a forum in Washington co-hosted by the State Department and the Korea Economic Institute on Thursday, with Lee joining virtually to give a keynote speech.

Fenandez also spoke, saying that South Korea, an automotive and battery manufacturing powerhouse, is an important partner in achieving the goals of the IRA and talks with Seoul will continue as the law is implemented.

The U.S. Treasury Department is of gathering a second round of feedback on the IRA until December 3, about a month before Fernandez is scheduled to visit South Korea to continue consultations on economic security matters.