Trade Minister: Korea, US to Discuss EV Subsidies Friday

The video discusses the US's push to relocate supply chains, particularly affecting Korea due to the Inflation Reduction Act. Korea's electric car industry faces challenges due to a provision requiring final assembly in North America. Both governments are working on solutions, including potential waivers and amendments. The video also addresses the growing US-China rivalry and its impact on Korea, emphasizing the need for stable commercial relationships. Lastly, it highlights Korea's need for foreign investment in the high-tech sector amid global decoupling trends.

What is one of the main reasons the US is pushing to relocate supply chains to its shores?

• To reduce dependency on foreign oil

• To increase domestic employment

• To address issues related to the Inflation Reduction Act

• To strengthen economic ties with Europe

What is causing significant challenges for the Korean electric car industry?

• Lack of technological innovation

• High tariffs on exports

• A provision in the Inflation Reduction Act

• Shortage of skilled labor

What is a potential solution being considered for the Korean automakers affected by the Inflation Reduction Act?

• Seeking a waiver for Korean automakers

• Building more plants in Europe

• Reducing car prices

• Increasing production in Korea

What is a key factor in maintaining trust between Korea and the US?

• Cultural exchanges

• Military alliances

• Joint space exploration projects

• Addressing issues related to the Inflation Reduction Act

What is the main concern regarding the US-China rivalry for Korea?

• Potential military conflict

• Impact on Korea's industrial competitiveness

• Loss of cultural heritage

• Decrease in tourism

Why is Korea trying to establish a stable business environment?

• To attract companies leaving China

• To increase agricultural exports

• To attract tourists

• To become a global tech leader

What is Korea's trade ministry focusing on to boost the high-tech industry?

• Expanding the tourism sector

• Increasing tariffs on imports

• Attracting foreign investment

• Developing new agricultural techniques