South Korea on Wednesday welcomed a U.S. decision to extend automakers' eligibility for electric vehicle tax credits for cars containing Chinese graphite through 2026. The U.S. is trying to wean the electric vehicle battery chain away from China through its Inflation Reduction Act which is being closely monitored by automakers as they make investment decisions. South Korea's industry ministry said it will continue to seek to secure key battery materials so domestic battery manufacturers and carmakers can maintain their competitiveness in the U.S. market by meeting the requirements of the Inflation Reduction Act.