South Korea, US sign new cost-sharing deal for US troops
SEOUL: The South Korean government signed a short-term agreement to increase the amount of its contributions to support US forces on the Korean peninsula after a previous deal ended under a call by US President Donald Trump for more funds.
To achieve this step, the South Korean parliament must approve the new agreement, which will raise South Korea’s contribution to 1.03 trillion won ($ 890 million) from 960 billion won in 2018.
The agreement comes in contrast to the previous five-year agreements, ending this agreement within one year, which could force both sides to return to the negotiating table within months.
Unlike past agreements, which lasted for five years, this one is scheduled to expire in a year, potentially forcing both sides back to the bargaining table within months.
“It has been a very long process, but ultimately a very successful process,” South Korean Foreign Minister Kang Kyung-wha said at a meeting before another official from the foreign ministry initialled the agreement.
While acknowledging lingering domestic criticism of the new deal and the need for parliamentary approval, Kang said the response had “been positive so far.” The US State Department senior adviser for security negotiations and agreements, Timothy Betts, met Kang before signing the agreement on behalf of the United States, and told her the money represented a small but important part of South Korea’s support for the alliance.
“The US government realizes that South Korea does a lot for our alliance and for peace and stability in this region,” he said. The allies had struggled to reach a breakthrough despite 10 rounds of talks since March, amid Trump’s repeated calls for a sharp increase in South Korea’s contribution.