President Lee Jae-myung said he could provisionally accept a "freeze of the nuclear program," rather than a complete dismantlement, in talks on North Korea's denuclearization. It means he could allow a transaction between U.S. President Donald Trump and North Korean Chairperson Kim Jong-un. At the same time, on the trade talks underway with the United States, he warned, "If we accept the U.S. demands as they are, we could face a situation like the 1997 foreign exchange crisis." Ahead of attending the U.N. General Assembly, President Lee has been laying out concrete new ideas on diplomatic and security issues in back-to-back interviews with major foreign media.
In a BBC interview on the 21st (local time), President Lee pointed to North Korea producing an additional 15 to 20 nuclear weapons annually and called a nuclear freeze "an 'emergency interim measure' and 'a feasible, realistic alternative.'" He said, "As long as we do not abandon the long-term goal of denuclearization, there is a clear benefit to stopping North Korea's nuclear and missile development." He added, "The question is whether to insist on the fruitless final goal (denuclearization), or to set a more realistic goal and achieve at least part of it." It appears he presented a realistic solution to break the deadlock in talks with North Korea, which declared itself a nuclear-armed state in 2022.
President Lee also raised the possibility that the U.S.-North Korea nuclear talks, which collapsed in 2019, could resume. He said Trump and Kim "seem to have a certain degree of mutual trust," and predicted their meeting could be arranged again.
He unleashed pointed remarks toward the United States. In an interview with Reuters, President Lee explained the status of the South Korea-U.S. trade talks and said, "If we invest the entire $350 billion in cash in the United States in the way the U.S. demands, Korea could face a situation like the 1997 foreign exchange crisis." In Jul., South Korea and the United States reached a verbal agreement under which the United States would lower tariffs on South Korean products in return for South Korea investing $350 billion in the United States. But President Lee made clear that without safeguards such as a currency swap, it would be difficult to withstand a massive outflow of foreign currency.
He also called "shocking" the recent incident in which hundreds of South Korean workers were detained on immigration charges at Hyundai Motor's battery plant in Georgia. President Lee told the BBC, "As president, I feel deep responsibility for the harsh treatment our citizens suffered," and said, "This incident could make South Korean corporations more hesitant to invest in the United States." However, he added that he does not believe President Trump ordered it directly, and said the two countries could strengthen ties, like the saying "after the rain, the ground hardens," as they resolve the situation.
He also spoke about the difficulties facing South Korea amid rapidly changing global dynamics. President Lee noted that Chinese President Xi Jinping, Russian President Vladimir Putin, and Chairperson Kim Jong-un stood side by side at a military parade in Beijing, and said, "The sight of China, Russia, and North Korea growing very close is by no means desirable for us." He continued, "The world is dividing into two camps, and South Korea is right on that boundary," adding, "This situation is getting more and more difficult." As a solution, he proposed continuing close cooperation with the United States and Japan.
Meanwhile, President Lee stressed that, unlike the previous Yoon Suk-yeol administration, he is working to restore trust with North Korea. After President Lee took office, the government halted the anti-North Korea radio broadcasts that had provoked the North. Responding to criticism from human rights groups that the move blocks North Korean residents' access to outside information, President Lee said, "We judge that the broadcasts have little practical effect," and argued, "The benefits are not greater than the expense of provoking the regime." He added, "Because the previous administration's North Korea policy line was very hostile, restoring inter-Korean trust is important."