South Korea, U.S. in working to adjust regulations


Hyundai executives and government officials break ground on the automaker’s new “Metaplant America” in Bryan County, Georgia, on Tues., Oct. 25, 2022.

CNBC | Michael Wayland

SAVANNAH, Ga. – South Korean officials are working closely with the U.S. government to adjust restrictive regulations on electric vehicles under the recently passed Inflation Reduction Act, according to the county’s trade ambassador Tuesday.

Cho Tae-yong, ambassador of the Republic of Korea to the U.S., said officials are discussing “several possible options” to correct what the country believes to be unfair policies that eliminated up to $7,500 of tax credits for EVs produced outside North America.

“We are in very…


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