The Ministry of Trade, Industry and Energy said it will discuss issues with electric vehicles, semiconductors, and bio industries.

Lee Chang-yang, Minister of Industry, visits Washington, D.C. from 20th to 21st (local time), and meets with US Secretary of State Ramon do and Senator Tommy Turberville.

Bloomberg Surveillance Simulcast
Inflation Reduction Act, Semiconductor and Science Act, and Bio Administrative Commands are the topics.

The Ministry of Industry has decided to urge the solution to the IRA issue and to urge solutions. The Guardrail provisions of the Semiconductor and Science Law and the Bio Administrative Order will be discussed not to shrink Korean business activities.

Lee plans to strengthen cooperation with the ROK-US industry and supply chain and expand trade and investment, and highlight that it is necessary to consult with the Korean government and companies when the US introduces laws and administrative measures. He also decided to emphasize that the US-US cooperation could be expanded if IRA solution was derived.

This minister is Washington, D.C. After a certain schedule, it will be attracting high-tech industries and supply chain investment in New York. He then moves to Canada to discuss trade and investment expansion, mineral cooperation, and R & D cooperation.