President Lee: "No Behind-the-Scenes Deals in Tariff Talks... Georgia Detention Incident Has Major Impact on U.S. Investment"

President Lee Jae Myung stated on the 11th that, regarding the tariff negotiations with the United States centered on the creation of a $350 billion (approximately 486 trillion won) investment fund for the US, "There are no behind-the-scenes agreements," and emphasized, "I have never made a decision that goes against the national interest."

President Lee Jae Myung is speaking at the 100-day inauguration press conference titled "100 Days for Recovery, Growth for the Future" held at the Blue House State Guesthouse on the 11th. 2025.9.11 Yonhap News Photo by Yonhap Reporter

On the occasion of his 100th day in office, President Lee held a press conference at the Blue House State Guesthouse and, in response to questions about the tariff negotiations with the United States, said, "We do not engage in any negotiations that deviate from rationality and fairness." Regarding the timing of a final 'package deal' that could include follow-up issues and security matters, he stated, "It is not yet finalized, so it would be inappropriate to discuss details from the negotiation process." He added, "There are various elements to the negotiations, including security issues, nuclear fuel processing, strategic flexibility (such as the presence of US Forces Korea), and defense costs. We have crossed a small hurdle, but there will be countless more to overcome until the very end of my term."

President Lee further stressed, "There is still a long way to go in these negotiations," and added, "Although what is outwardly revealed may seem rough, extreme, excessive, unreasonable, and irrational, the final conclusion will be reached in a rational manner."

In response to some pointing out that there was no agreement document signed by the leaders of both countries regarding the tariff negotiations, he said, "This negotiation was not about us trying to gain something, but rather about defending ourselves as much as possible against the United States' unilateral tariff increases." He questioned, "If it is only about defense, why would we sign an agreement that is not beneficial to us?" He continued, "At the very least, we should strive to sign something rational. Do not criticize simply because there was no signature."

Regarding the recent detention of Korean workers in Georgia, United States, President Lee pointed out, "This could have a significant impact on our companies' direct investment in the US." He said, "We are negotiating, in response to business community requests, for the normal issuance of visas related to US investments or for the creation of new types of visas." He added, "If the United States has practical needs, I believe the issue will be resolved, but under the current circumstances, Korean companies will inevitably hesitate to make direct investments in the US."

However, President Lee drew a line regarding concerns that this detention incident could negatively impact the South Korea-US alliance, which has lasted for over 70 years, stating, "We have not reached a stage where we are thinking that deeply about it yet." He added, "Frankly, it is bewildering," but also noted, "There seems to be a cultural difference between Korea and the United States."

On inter-Korean relations, President Lee stated, "As you have all seen, North Korea's attitude is cold." He continued, "From North Korea's perspective, they have endured years of provocations, such as the South Korean government acting as if it might launch a military invasion and sending drones over Pyongyang. If anyone expected North Korea to suddenly change to a beaming smile just because the administration changed and a few conciliatory measures were taken, that would be foolish." However, he emphasized, "For us, peace and stability on the Korean Peninsula are not only critical military issues but also cause enormous economic damage. Therefore, even a slight easing of military tensions along the Demilitarized Zone is in our interest." He added, "Regardless of North Korea's attitude, it is not because Lee Jae Myung is pro-North Korea, but because it is necessary for the security of the Republic of Korea, for the economy, and for people's livelihoods that we seek to ease tensions."