On the 23rd, as President Lee Jae-myung visited New York to attend the U.N. General Assembly, city and provincial council members from the Democratic Party of Korea held press conferences across the country condemning the United States' tariff negotiations. They also criticized U.S. President Donald Trump.
On the 23rd, Seong Heum-je, floor leader of the Democratic Party of Korea at the Seoul Metropolitan Council and co-chair of the Deominju Seoul Innovation Council, held a press conference at the city council titled "Press conference condemning the damage to the South Korea-U.S. alliance and the coercion of unequal investment."
They said, "If either side makes the other's sovereignty, industrial strategy and national economy a scapegoat, that is not an alliance but a national insult." They continued, "The United States is demanding more than $350 billion, or about 470 trillion won, in cash investment from Korea. The conditions are that the United States will monopolize even the use of funds and revenue sharing," adding, "It is investment in name only; in reality, it is 'no-questions-asked compensation.' It is a humiliating demand that treats an ally like a war criminal state."
They argued that this was "a more draconian punitive demand than the Versailles reparations." The reparations imposed by the victors of World War I on Germany did not exceed an annual average of 8% compared to the economic size at the time, whereas the investment amount the United States is demanding from Korea is at an annual average level of 6%.
The Deominju Seoul Innovation Council said, "This is blackmail," adding, "The U.S. demand of $350 billion, or 470 trillion won, amounts to a burden of about 10 million won per citizen."
They demanded of the government, "There must be no hasty deal without National Assembly consent and an explanation to the public," and urged, "Protect sovereignty." Toward the United States, they said, "President Trump should stop testing Korea and immediately withdraw the unequal demands."
The Deominju Seoul Innovation Council also said, "If the United States does not show a forward-looking change in attitude, we will launch nationwide action." Specifically, it mentioned ▲ boycott of travel to the United States ▲ boycott of U.S.-made products ▲ boycott in the stock market.
Council member Seong Heum-je said, "We do not intend to damage the alliance," adding, "We will keep the alliance firm, but we arranged this press conference to represent the public's voice on the unequal investment demands."
The Deominju National Innovation Council is a pro-Myung (pro–Lee Jae-myung) organization within the Democratic Party and the Deominju Seoul Innovation Council is its subordinate body. Both lawmakers and figures outside the Assembly, including Kim Yong-min, Min Hyung-bae, Kim Woo-young, Boo Seung-chan, Yang Moon-suk and Yang Bu-nam, are active together.
On this day, the Deominju National Innovation Council held simultaneous press conferences in 17 cities and provinces nationwide and at the National Assembly, condemning the United States' tariff negotiations.
The Deominju Daejeon Innovation Council said in front of the Daejeon Metropolitan Council, "We condemn the unequal tariffs and coerced investments carried out under the name of the South Korea-U.S. alliance." The Deominju Jeju Innovation Council said at the Jeju Provincial Council, "President Trump, do not force a debt amounting to 10 million won per citizen of Korea."
On the 22nd (local time) in New York, President Lee Jae-myung met with four members of the U.S. Senate Foreign Relations Committee and the House Foreign Affairs Committee. At the meeting, President Lee said, "There are concerns that instability could be triggered in Korea's foreign exchange market during the course of the South Korea-U.S. tariff negotiations, but in the end both sides will be able to find a solution in a way that guarantees 'commercial rationality.'" It is interpreted to mean that the tariff negotiations should not proceed in a way that imposes losses on Korea.