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FM Park: US Law May Breach FTA, WTO Rules

Written: 2022-08-19 19:07:11Updated: 2022-08-19 19:16:50

FM Park: US Law May Breach FTA, WTO Rules

Photo : YONHAP News

Foreign minister Park Jin said Friday the government is talking with Washington to address concerns held by South Korea's auto industry regarding a new U.S. law that excludes Korea-made electric vehicles(EV) from eligibility for state subsidies.

Speaking in a parliament committee meeting, the top diplomat said the Inflation Reduction Act may infringe upon the Korea-U.S. free trade agreement and World Trade Organization regulations. 

He said the government is in the process of conveying these concerns to the U.S. through various channels and will also discuss joint responses with other countries that also export EVs to America.

Park said he will communicate with related agencies and industries to mitigate disadvantages South Korean firms operating in the U.S. may face as a result of the new law.

The National Assembly's foreign affairs committee is also pushing for a resolution underscoring Seoul's concern and urging the government to proactively negotiate with Washington on the issue.

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