The United States and South Korea have tentatively agreed to a new deal covering the costs of maintaining the American military presence there.
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The agreement, which must still be approved by the South Korean government and ratified by its parliament before taking effect, would see Seoul’s contribution rise by 8.3% during the first year of the five-year deal, to $1.125 billion. Additional increases, capped at 5% per year, would then be applied.“The agreement will be a significant accomplishment for both sides, and will strengthen our alliance and our shared defense,” State Department spokesman Matthew Miller said in a statement.
The current agreement was not due to expire until next year, but the Biden administration had been pushing to complete the “Special Measures Agreement” with South Korea before November’smore to extend mutual defense agreements. That led to fears that decadeslong alliances could be jeopardized, and the previous agreement was not extended until President Joe Biden took office.
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The US and South Korea reach new deal on costs for the American troop presenceThe United States and South Korea have tentatively agreed to a new deal covering the costs of maintaining the American military presence there. The agreement must still be approved by the South Korean government and ratified by its parliament, but it would see Seoul's contribution rise by 8.3% during the first year of the five-year deal.
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