The US and South Korea reach new deal on costs for the American troop presence
The United States and South Korea have tentatively agreed to a new deal covering the costs of maintaining the American military presence there
WASHINGTON (AP) — The United States and South Korea have tentatively agreed to a new deal covering the costs of maintaining the American military presence there, the U.S. State Department and South Korean foreign ministry announced Friday.
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.
There are about 28,500 U.S. forces in South Korea to help deter potential aggression from North Korea and fewer than a handful of major bases.
“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.
