South Korea Working With Industry to Respond to US Chip Incentives
South Korea held an industry conference Aug. 25 to discuss and coordinate responses to the U.S.’s CHIPS and Science Act, which provides incentives for American semiconductor investments, and the Inflation Reduction Act, which provides tax credits for certain electric vehicles…
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that are assembled in North America, and whose batteries are mostly sourced from allies. South Korea said it hopes to continue to express to the U.S. its “concerns” over certain provisions of the CHIPS law that it said violate World Trade Organization rules. The country is also planning a range of “countermeasures,” including “an early commencement of manufacturing plant construction to move up production timelines” in its EV battery and chip sectors.