S. Korean firms urge US to clarify 'foreign entity of concern'

South Korean companies have asked the United States to clarify from which foreign companies they are not required to import critical electric vehicle battery minerals under the US Inflation Reduction Act, industry sources said Sunday.
Senior executives of South Korean battery and material companies made the request to US Deputy Secretary of Commerce Don Graves during a closed-door meeting in Seoul on Friday.
The executives who attended the meeting were from South Korea's three leading car battery makers -- LG Energy Solution, SK On and Samsung SDI -- and EV material firms -- Posco Future M, SK ie technology Co. and Lotte Energy Materials Co.
The executives have asked the United States to quickly clarify the definition of "foreign entity of concern" to resolve uncertainties in their businesses and investments.
They called on the US to take into account the complexity and global interdependence of the supply chains of EV batteries when setting the scope of a foreign entity of concern.
The IRA offers tax credits of up to $7,500 to each buyer of a new electric vehicle only assembled in North America.
To be eligible, vehicles must meet sourcing requirements for both the critical minerals and battery components contained in the vehicle, according to US Treasury Department.
Beginning in 2024, eligible vehicles may not contain any battery components that are manufactured by a foreign entity of concern, and beginning in 2025, such vehicles may not contain any critical minerals that were extracted, processed or recycled by such entities, according to the department. (Yonhap)
相关文章
[Herald Interview] 'UN peacekeeping forces need better gender equity'
United Nations peacekeeping force officers who visited Seoul earlier this month emphasized the need2023-10-01Govt. to survey spending on private education of preschoolers, Suneung retakers
South Korea's official data on parental spending for their children's education has long f2023-10-01Hyundai Motor may sell Russian plant to local firm
A Russian firm will buy Hyundai Motor’s manufacturing plant in St. Petersburg which halted operation2023-10-01- 용산 팔도장터 찾아 떡메치기윤석열 대통령이 24일 서울 용산어린이정원에서 열린 ‘추석맞이 팔도장터’에서 어린이와 떡메치기를 하고 있다. 이날 전국의 다양한 추석 성수품을 구입한 윤2023-10-01
- South Korean auteur Chung Ji-young returns for the first time in four years with the crime flick “Th2023-10-01
'코로나 봉쇄' 북한, 국경 열었다…3년8개월 만에 외국인 입국
중국 베이징 소재 북한전문 여행사 '고려투어'는 지난달 11일 홈페이지 게시글에서 "북한이 매우 조만간 국경을 공식 개방할 것으로 기대된다는 소식을 들었다"고 밝혔다. 사진은 고려2023-10-01
最新评论