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Inflation Reduction Act

IRS Audit Delays Surge Amid Workforce Cuts, $2.4 Trillion Tax Loss Feared

The Internal Revenue Service (IRS) is facing growing delays and cancellations of tax audits as its workforce continues to shrink, raising concerns that audits...

Korean companies to invest $8 billion in U.S. battery factories

SK On and Hyundai Motor and related companies will together invest $5 billion to build an electric vehicle battery plant in Georgia, a major...

[EXCLUSIVE] Georgia governor says IRA hurts Korean companies

Georgia Governor Brian Kemp said that the Biden administration's Inflation Reduction Act (IRA) is hurting Korean companies, in an exclusive interview with the Korea...

[INTERVIEW] IRA offers opportunities to Korean businesses: Ossoff

Jon Ossoff, the Democrat senator who represents one of the most popular U.S. states for Korean manufacturers, said that the 70-year-old bilateral alliance cannot...

Korean battery makers to soon be eligible for U.S. tax credits

Korea’s battery makers will soon be eligible for U.S. tax credits under the newly-announced battery sourcing rules. The U.S. Treasury Department on Friday announced the...

Lots of diplomacy this week on the U.S. IRA

Korean and U.S. officials are holding discussions about the U.S. Inflation Reduction Act (IRA) and its impact on Korean industries. Second Vice Foreign Minister Lee...

Trade Minister heads to the U.S. to lobby for IRA changes

Korean Trade Minister Ahn Duk-geun will visit the United States for talks on the Inflation Reduction Act (IRA), which limits subsidies to electric vehicles...

Seoul asks Washington to include car-sharing EVs in IRA

The Korean government asked the U.S. government to include car-sharing EVs such as Uber and Lyft in the EV tax incentives under the Inflation...

At CSIS forum, experts survey ‘more tense’ geopolitical landscape

Cooperation between the United States and South Korea is key to resolving Seoul's worries over the Inflation Reduction Act (IRA), a White House official...

LG Chem to invest $3.2 billion to build cathode plant in Tennessee

LG Chem will invest $3.2 billion to build a cathode plant in Clarksville, Tennessee, aiming to be a major supplier of electric vehicle (EV) battery materials. It...

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