US EditionSouth Korean president says his country can’t afford Trump’s demands
President Lee warned that without safeguards like a currency swap, South Korea's $350 billion U.S. investment commitment could trigger a financial crisis similar to 1997, amid strained trade talks.
- South Korea's economy could face crises similar to the 1997 meltdown if U.S. demands in trade talks are accepted without safeguards.
- President Lee Jae Myung mentioned disputes over how investments would be handled and that the agreement is not yet finalized.
- Lee stated that a currency swap is essential to avoid a $350 billion withdrawal, which could trigger a financial crisis like in 1997.
- Commerce Secretary Howard Lutnick suggested that South Korea should align with Japan's deal with the U.S., while Lee emphasized the need to separate security from trade talks.
28 Articles
28 Articles
South Korean president says country can't afford bully Trump's '$350 billion' demand
South Korean President Lee Jae Myung has warned that his country could face a severe financial crisis similar to the 1997 Asian financial crisis if it meets President Donald Trump’s investment demands without proper safeguards. The warning comes as both countries struggle to finalize a trade agreement that was first outlined in July 2025. The two nations reached a framework deal in July where the United States agreed to reduce tariffs on South K…
South Korea Says It Is Not Wealthy Enough to Satisfy U.S. Demands
South Korea’s President Lee Jae-Myung warned that meeting Washington’s $350 billion investment demand without protections could trigger a financial crisis as severe as 1997. In July, Seoul and Washington agreed verbally that the U.S. would cut tariffs on Korean exports if Korea parked $350 billion in American assets. They have not finalized details on how […]
(Seoul = Yonhap News) Reporter Seo Hye-rim = President Lee Jae-myung said on the 22nd (Korean time) that he aims to resolve the tariff issue between Korea and the United States as quickly as possible...
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