Cho Tae-yong, South Korea's ambassador to the United States, speaks during a press conference in Washington on Aug. 29. Yonhap

The U.S. government has agreed to launch formal talks with Korea on ways to minimize the adverse effects of the recently enacted Inflation Reduction Act (IRA) on Korean electric vehicles, Seoul's ambassador to the U.S. said Monday.

Amb. Cho Tae-yong also said the U.S. understands the reasons behind Korea's concerns and that they are justified.

"We have especially stressed that the discriminative measures against electric vehicles from South Korea, an ally and partner in a free trade agreement, are unfair, and the U.S. side is not presenting any differing views," the Korean diplomat said in a meeting with reporters in Washington.

"Based on such discussions, the Korean and U.S. governments have agreed to hold talks between the governments to come up with a solution to this issue," added Cho.