South Korea's Ambassador to the U.S. said that the leaders of the two nations have reaffirmed their commitment to cooperation in resolving Seoul's concerns over the U.S. Inflation Reduction Act(IRA).

Ambassador Cho Tae-yong made the remarks on Monday in a meeting with reporters in Washington, pointing out that President Yoon Suk Yeol and U.S. President Joe Biden met three times during Yoon’s trip to New York and discussed key bilateral issues.

Cho stressed that it is a meaningful achievement that the two sides discussed concerns held by South Korean businesses regarding the IRA and reaffirmed their commitment to resolving the issue at the highest level.

The ambassador added that the government is actively communicating with the U.S. Congress and administration on the matter, calling for solutions that properly reflect Seoul's interests.

Cho said that while there are obstacles due to the political landscape in the U.S. ahead of the midterm elections in November, the Seoul government is doing its best to produce a solution by presenting possible alternatives that rectify the exclusion of South Korean-made electric vehicles from tax incentives per the new law.