Xinhua News Agency, Seoul, September 22 (Reporter Huang Xinxin, Lu Rui) According to Yonhap News Agency's report on the 22nd, South Korean President Lee Jae-myung said that if the South Korean government accepts the existing investment requirements of the United States without any safeguard measures in the currently stalled trade negotiations, the South Korean economy may fall into crisis and face a predicament similar to the 1997 financial crisis.

Li said in an interview with foreign media that the two sides had not yet signed a formal agreement due to differences in how investments were handled, and that reaching a concrete agreement that would ensure business rationality is the core task and the biggest obstacle.

U.S. immigration law enforcement officers arrested 475 people without legal identity, including more than 300 South Korean citizens, in Georgia on Thursday during a raid against a battery factory and related contractors operated in cooperation with South Korea¡¯s Modern Automobile Group and LG New Energy Company. Lee said the harsh treatment of South Korean employees would provoke anger among South Koreans, and warned that the U.S. move could cause South Korean companies to be cautious about investing in the United States.

South Korea and the United States reached a trade agreement framework at the end of July, but no final agreement has been reached on the specific implementation plan. According to U.S. President Trump, South Korea¡¯s U.S. exports will be subject to a 15% tariff rate, while U.S. products will not be subject to tariffs in South Korea. South Korea will invest $3500 billion in the U.S., and will also purchase $100 billion worth of liquefied natural gas or other energy products from the U.S. South Korea will fully open trade to the U.S. and accept U.S. automobiles and agricultural products.