Tag: IRA

IRA

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Make it here, pay less tax: Gov't unveils production credit for chips, batteries

A 2026 tax package gives domestic production credits for chips, batteries and other key sectors while creating a Korea-only investment account with unlimited tax-free dividend and interest income.

2026.8.3

U.S. House Speaker Mike Johnson shows the final tally of the vote on U.S. President Donald Trump's tax bill on the floor of the House of Representatives at the U.S. Capitol in Washington on July 3. Congress passed the One Big Beautiful Bill Act, despite misgivings in his party over concerns that the national debt will balloon and the historic assault on the social safety net. [AFP/YONHAP]

For Korea Inc., Trump's Big Beautiful Bill is a lot of pain, some gain

U.S. President Donald Trump is set to sign the One Big Beautiful Bill Act into law — legislation that is expected to impact Korean companies with production bases in the United States, including in the automotive, solar energy and battery industries.

2025.7.4

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The headquarters of Samsung Electronics in Seoul [YONHAP]

Korean industries watch closely as Trump begins second term

As Donald Trump takes office for his second term as U.S. president, Korean industries are closely watching for potential changes in Washington's economic and trade policies, which could significantly impact their American businesses.

2025.1.21

Republican presidential nominee Donald Trump dances after speaking at an election night watch party Wednesday in West Palm Beach, Florida. [AP/YONHAP]

트럼프 승리에 숨죽인 한국 전기차·배터리 제조사

Former President Donald Trump’s victory in the U.S. presidential election has forced Korean EV and battery makers into an uneasy holding pattern as their bottom lines face a potential threat with the Republican nominee’s expected attempt to slash...

2024.11.13

A Tesla car charges at a Tesla Supercharger in Petaluma, California on May 2. LG Energy Solution supplies batteries to Tesla. [AFP/YONHAP]

Why Korea shouldn't let its guard down on 2-year grace period of IRA

Korean battery makers are eying a pivot away from graphite in a bid to untether themselves from China-dominated supply chains.

2024.5.13

Hyundai Motor's Ioniq 5 sedan [HYUNDAI MOTOR]

U.S. gives 2-year grace period until IRA battery regulations take effect

The U.S. government announced a two-year grace period before the regulations on battery materials under the Inflation Reduction Act (IRA) become enforceable.

2024.5.5

The BlueOval SK Battery Park Kentucky in Glendale, Kentucky. SK On and Ford are building two EV plants there. [SK ON]

Korea needs 2-year grace period on IRA, battery makers plead

Local manufacturers contend that it will take at least two years to stabilize supply chain alternatives to China in compliance with the law.

2024.2.20

SK On signs U.S. graphite supply deal to counter IRA impact

SK On signed a supply deal for anode materials with a U.S. graphite supplier, upping its response to the U.S. Inflation Reduction Act (IRA) subsidy program aimed at barring battery materials sourced from China.

2024.2.12

A 3.5-ton truck from LG Energy Solution employees with an electronic display demanding a new ″incentive plan reflecting our blood and sweat,″ was driven around Yeouido, western Seoul, on Monday. [YONHAP]

'Reflect our blood and sweat': LG Energy Solution employees stage angry protest

Thousands of LG Energy Solution employees staged an anonymous protest Monday arguing they deserve more incentives reflecting the company's record-high profits.

2024.2.5

[단독 인터뷰] 美 조지아 주지사 “나는 IRA 법안의 열렬한 반대자, 연방정부에 반대 입장 지속 어필”

미국 조지아주 브라이언 캠프 주지사는 미 인플레이션 감축법(IRA)은 한국 기업들에게 큰 타격을 주는 법안이며 외국 기업들에게 불공평한 장벽을 만들어 미국으로의 진출과 정부의 인센티브 등을 막는 법안이라고 지적했다.