South Korean President Lee Jae Myung in an interview with Reuters said his country cannnot afford to meet President Trump's demands that it invest $350 billion into America in exchange for the removal of punishing tariffs.

"Without a currency swap, if we were to withdraw $350 billion in the manner that the U.S. is demanding and to invest this all in cash in the U.S., South Korea would face a situation as it had in the 1997 financial crisis," Lee told Reuters through a translator, explaining that the demands would plunge the country into a financial crisis.

"Reaching detailed agreements that guarantee commercial reasonableness is now the central task - yet it also remains the biggest obstacle," Lee said.

Trump said Korea’s investment projects would be selected by him and the country woul

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