The US and South Korea reach new deal on costs for the American troop presence
WASHINGTON — The United States and South Korea have tentatively agreed to a new agreement that will cover the costs of maintaining the U.S. military presence there, the U.S. State Department and South Korea’s Foreign Ministry announced Friday.
The deal, which must be approved by the South Korean government and ratified by parliament before it takes effect, would increase Seoul’s contribution by 8.3% to 1.125 billion in the first year of the five-year deal dollars. Additional increases would then be applied, with a maximum of 5% per year.
There are approximately 28,500 U.S. troops in South Korea to assist to deter potential aggression from North Korea and less than a handful of major bases.
āThe agreement will be a significant achievement for both sides and will strengthen our alliance and our shared defense,ā State Department spokesman Matthew Miller said in a statement.
He did not provide details of the costs to South Korea, which were outlined in a simultaneously released statement from South Korea’s Foreign Ministry.
The current agreement was not due to expire until next year, but the Biden administration had pushed to finalize the āSpecial Measures Agreementā with South Korea before the November election. US presidential electionpartially soften South Korean concerns that a possible victory by former President Donald Trump could complicate future negotiations.
During Trump’s term, he repeatedly accused South Korea and other US allies of “freeloading” suggested he would demand billions of dollars more to expand mutual defense agreements. That led to fears that decades-long alliances could be at risk, and the previous agreement was not extended until President Joe Biden took office.
The new deal, if approved by the South Koreans, would run until 2030, after the four-year term of the next US president.