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flag South Korea’s president warns U.S. trade demands could trigger a financial crisis without safeguards, amid stalled talks and unresolved trade issues.

flag South Korea’s President Lee Jae Myung warned that accepting U.S. trade demands without safeguards, including a $350 billion cash investment, could trigger a financial crisis similar to 1997, citing risks to the won and lack of currency protection. flag Though a July agreement lowered tariffs in exchange for investment, talks stall over implementation, commercial viability, and U.S. control. flag Lee stressed the need for a foreign exchange swap line, noting South Korea’s smaller reserves compared to Japan. flag He criticized a recent U.S. immigration raid detaining over 300 Korean workers as excessive but affirmed strong alliance ties, praising Trump’s offer to let workers stay. flag Lee will chair a U.N. Security Council meeting—making him the first South Korean president to do so—though no meeting with Trump is scheduled, and trade talks remain unresolved.

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