The United States and South Korea have tentatively agreed to a new deal regarding the costs of maintaining the American military presence in South Korea. The agreement, announced by the U.S. State Department and South Korean foreign ministry, is subject to approval by the South Korean government and ratification by its parliament.
Under the proposed deal, South Korea's contribution would increase by 8.3% in the first year of the five-year agreement, amounting to $1.125 billion. Subsequent annual increases, capped at 5%, would follow. Currently, there are approximately 28,500 U.S. forces stationed in South Korea to help deter potential aggression from North Korea, spread across a few major bases.
The State Department emphasized that the agreement would be a significant achievement for both countries, strengthening their alliance and shared defense efforts. While specific cost details were not provided by the State Department, they were outlined in a statement released by the South Korean foreign ministry.
The negotiations for the new agreement were expedited by the Biden administration, aiming to finalize the 'Special Measures Agreement' before the U.S. presidential election in November. This move was intended to address South Korean concerns that a potential re-election of former President Donald Trump could complicate future discussions.
During Trump's presidency, there were tensions as he criticized U.S. allies, including South Korea, for not contributing enough financially to mutual defense agreements. This raised concerns about the stability of longstanding alliances. The previous agreement was extended only after President Joe Biden assumed office.
If approved by South Korea, the new agreement would be in effect until 2030, extending beyond the term of the next U.S. president.
