South Korean President Lee said in an interview on Monday:If South Korea accepts U.S. demands in trade negotiations without safeguards, the South Korean economy will face a financial crisis similar to that of 1997.

According to the report, South Korea and the United States reached a trade agreement in July, in which the United States would lower tariffs on South Korean goods in exchange for South Korea's $350 billion investment. Li said that due to disputes over how to handle investment, they had not yet put the agreement into effect. Li noted that if South Korea withdrew $35 billion in cash and invested all of it in the United States, South Korea would face a situation similar to the financial crisis of 1997.

According to the Associated Press, Lee departed to New York on the morning of Monday, starting a five-day trip to the United States and attending the UN General Assembly.