South Korea's economy could fall into crisis rivaling its 1997 meltdown if the government accepts current U.S. demands in stalled trade talks without safeguards, President Lee Jae Myung said on Friday.
Seoul and Washington verbally agreed to a trade deal in July in which the U.S. would lower President Donald Trump's tariffs on South Korean goods in exchange for $350 billion in investment from South Korea, among other measures.
They have yet to put the agreement to paper because of disputes over how the investments would be handled, Lee said.
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