Skip to main content
Best News Website or Mobile Service
 
WAN-IFRA Digital Media Awards Worldwide
Best News Website or Mobile Service
 
Digital Media Awards Worldwide
Hamburger Menu

Advertisement

Advertisement

Business

US and South Korea exchange 'frank views' on vehicle credits, network fees

US and South Korea exchange 'frank views' on vehicle credits, network fees

FILE PHOTO: U.S. President Joe Biden and his South Korean counterpart Yoon Suk-youl hold a joint news conference at the People's House in Seoul, South Korea, May 21, 2022. REUTERS/Jonathan Ernst/File Photo

The United States on Wednesday (Sep 21) said its commerce secretary and South Korea's trade minister exchanged "frank views" over Seoul's pending legislation on network usage fees on foreign content providers and Washington's electric vehicle credits during a meeting.

The Inflation Reduction Act law, signed by President Joe Biden last month, eliminates federal tax credits for electric vehicles made outside North America, meaning companies including Hyundai and its affiliate Kia Corp will no longer be eligible for such subsidies.

South Korean President Yoon Suk-yeol arrived for his first official trip to the United States this week but the tensions threatened to disrupt a recent display of alliance strength with Washington.

In South Korea, there is a legislative push to make the likes of Netflix and Alphabet's Google pay local network fees.

While the readout from the US Commerce Department said Secretary Gina Raimondo and South Korea's Lee Chang-yang reaffirmed the importance of the bilateral economic relationship, it also hinted at tensions.

The pair "exchanged frank views on US concerns about South Korea's pending legislation to impose network usage fees on foreign content providers and South Korea's concerns relating to electric vehicle tax credits", it said.

Source: Reuters/zl
Categories

Advertisement

Also worth reading

Advertisement