South Korean President leaves for New York to attend UN General Assembly.

Sept 2025 : South Korean President Lee Jae Myung warned in an interview on Monday that if his government accepts current U.S. demands in stalled trade negotiations without safeguards, Korea’s economy could face a situation rivaling that of the Asian financial crisis. The remarks come as Lee began a five-day trip to New York on Monday to appear at the United Nations General Assembly, preside over an open debate of the UN Security Council and hold an investment summit.  

Lee, accompanied by first lady Kim Hea Kyung, departed at around 11 AM from the Seoul Air Base in Seongnam, Gyeonggi, on their third overseas trip since taking office and second visit to the United States in a month. According to the President, “without a currency swap, if Korea were to withdraw $350 billion in the manner that the United States is demanding and invest this all in cash in the United States, Korea would face a situation as it had in the Asian financial crisis“.  

While Seoul and Washington agreed to a trade deal in late July, lower U.S. tariffs on Korean goods in exchange for a $350 billion investment fund, the two sides have yet to sign an agreement after finalising the details. This comes despite Lee’s first bilateral summit with U.S. President Donald Trump in Washington last month. Lee, however, is not expected to hold separate talks with Trump on the margins of the UN General Assembly.

Korea’s trade deal is different from Japan’s, Lee told Reporters, noting that Japan has more than double Korea’s $410 billion foreign exchange reserves, an international currency in the yen and a swap line with the United States. Lee also addressed the recent U.S. immigration raid that detained several Koreans at the LG Energy Solution-Hyundai Motor battery factory in Georgia. While Koreans were angered by the harsh treatment of the workers, Lee said he didn’t believe it was “intentional” and that the United States has “apologised for this incident” and agreed to seek reasonable measures to resolve related issues.  

Lee also told Reporters his government was not optimistic about the prospect of inter-Korean talks for the time being, despite his initiative to ease cross-border tensions since taking office. Likewise, he said the government’s judgment is that Pyongyang and Washington “are not engaging in a win-win conversations” at the moment. “This is a very dangerous situation for South Korea, and we must find an exit ramp out of the escalating military tensions“, Lee said.

He called to “find a way for peaceful coexistence” amid a “dangerous situation” where South Korea, Japan and the United States deepen cooperation while China, Russia and North Korea work more closely together. Lee said he would agree to a deal between Trump and North Korean leader Kim Jong-un in which Pyongyang agreed to freeze production of its nuclear weapons, rather than get rid of them. Lee said North Korea was producing an additional 15 to 20 nuclear weapons a year and what is stated as “an interim emergency measure”, would be “a feasible, realistic alternative” for now.

Lee’s trip will convey key messages to the global stage regarding his administration’s diplomatic policy, and his address to the UN General Assembly is expected to include his vision of peace on the Korean Peninsula through encouraging dialogue with Pyongyang. After arriving in New York on Monday, Lee will meet with Larry Fink, CEO and chairman of BlackRock and chair of the World Economic Forum, to discuss cooperation on AI and energy transition.  

On Tuesday, Lee will deliver a keynote address to the 80th session of the General Assembly at the UN headquarters in New York and is expected to present a return to democratic principles, his vision for the Korean Peninsula and Seoul’s contributions to global peace and prosperity. The very next day, Lee will become the first South Korean president to preside over an open debate at the UN Security Council focused on AI, peace and security. Lee’s attendance comes as South Korea assumed the rotating presidency of the 15-member Security Council this month.  

On Thursday, Lee will attend the Korea Investment Summit in New York and present South Korea’s economic policies to global investors.

Team Maverick