S. Korea, U.S. nat'l security advisers likely to discuss Inflation Reduction Act

SEOUL, Sept. 1 (Yonhap) -- The national security advisers of South Korea and the United States are likely to discuss Seoul's concerns about the U.S. Inflation Reduction Act (IRA) when they meet in Hawaii this week, a presidential official said Thursday.

National Security Adviser Kim Sung-han is in Hawaii for bilateral and trilateral talks with his U.S. and Japanese counterparts, Jake Sullivan and Takeo Akiba, on wide-ranging issues including North Korea's nuclear weapons program and the economy.

The gatherings come amid growing concerns in South Korea that the IRA would act as a significant trade barrier for Korean-made vehicles as the law excludes electric vehicles (EVs) assembled outside North America from tax incentives.

When asked if President Yoon Suk-yeol gave special instructions to Kim regarding the IRA, the official declined to confirm.

"I believe it's an issue that can be put on the table when bilateral talks are under way between South Korea and the United States, in order to fulfill our national interest," the official told reporters. "That's my personal judgment and I don't believe I'm too far off in that regard."

The IRA calls for the expansion of tax subsidies for purchases of EVs, but only those assembled in North America, leading to concern it will hurt South Korean carmakers such as Hyundai Motor Co. and Kia Corp. that make their flagship models at domestic plants and ship them overseas.