Huh Chang-soo, chair of the Federation of Korean Industries (FKI), speaks during the 34th Korea-U.S. Business Council, co-hosted by the U.S. Chamber of Commerce, Oct. 19. Yonhap
Business lobbies of Korea and the United States held an annual conference Thursday on efforts to enhance economic cooperation, with the new U.S. law on electric vehicles (EV) that Korea has called discriminatory topping the agenda.
The conference, co-hosted by the two countries' key business lobbies, came as Korean government and industries have raised serious concerns over the U.S. Inflation Reduction Act (IRA), which calls for giving tax credits to EV buyers only if the cars were assembled in North America.
Korean businesses have voiced the need to allow exceptions for Korean automakers.
"The implementation of the IRA is already having a real impact on sales of Korean products in the U.S., and countermeasures seem urgent as public opinion here is worsening," Huh Chang-soo, chair of the Federation of Korean Industries (FKI), said at the 34th Korea-U.S. Business Council, co-hosted by the U.S. Chamber of Commerce. 
