Minister Lee Chang -yang reviews the WTO complaint as a final means of responding to the US IRA

We plan to visit the United States next month to respond to the US Inflation Reduction (IRA).

Lee Chang-yang, Minister of Trade, Industry and Energy, attended the semiconductor, automotive, and battery industry meeting held at the Korea Chamber of Commerce and Industry in Seoul on the 25th.

Minister Lee Chang-yang said, The United States is pursuing the promotion of high-tech industries and protection of the domestic industry with IRA. This law includes a burden on Korean companies that support tax deductions only for the final assembled electric vehicles in the United States. said.

We will solve the problem through bilateral negotiations, and we will carefully examine the violation of international trade norms such as the World Trade Organization (WTO) and the Korea-US Free Trade Agreement (FTA).

He also said, We will form a public-private joint response team, which is the head of the negotiations department, and promote the response to the US administration and legislative departments.

He noted that he is also considering responding with similar admission countries such as Germany.

It is pointed out that the response is late, I believe that it is the fastest and most active response among automobile producers such as Germany and Japan, he said.

This month, the head of the Ministry of Industry, Sin Tong Government's Strategy Division, will visit, and next month, the head of the Trade and Negotiation Division, Andeok-geun, plans to deliver our position to the United States.

When asked if the negotiations are distorted, there will be a plan, We will try to reflect our position as much as possible through bilateral negotiations, but we will review the WTO or FTA complaint as a last resort.

He added, I can't file a complaint on both the WTO and FTA, so I think the dispute resolution through the WTO, which is available for multilateral cooperation, is more effective.