Industry leaders join Yoon on US state visit

Thorny issue: A Hyundai N Vision 74 concept electric vehicle at the Shanghai Auto Show. The automaker is likely to address its exclusion from tax credits available for its vehicles sold in the US, due to the Science Act and Inflation Reduction Act. — Bloomberg

SEOUL: South Korea’s top conglomerate chiefs are heading to the United States to accompany President Yoon Suk Yeol on his state visit, hoping to find a breakthrough in business uncertainties surrounding increasingly protectionist policies in the all-important market.

With his biggest economic delegation to date on his weeklong state visit to the US, Yoon is expected to relay the difficulties South Korean companies face with the US’ introduction of the CHIPS and Science Act and Inflation Reduction Act, while also stressing the need to cooperate in advanced technology.