Parliamentary committee passes motion on ratification of S. Korea-U.S. defense cost deal

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Parliamentary committee passes motion on ratification of S. Korea-U.S. defense cost deal

Published: 28 Nov. 2024, 14:30

Lee Tae-woo, Korea's chief negotiator for the defense cost-sharing talks, right, signs the preliminary agreement for the 12th Special Measures Agreement (SMA) with Linda Specht, U.S. Senior Advisor in the Bureau of Political-Military Affairs, at the Ministry of Foreign Affairs building in Seoul on Oct. 3. [MINISTRY OF FOREIGN AFFAIRS]

The parliamentary foreign affairs committee on Thursday passed a motion requesting parliamentary approval for the ratification of a new defense cost-sharing deal between Korea and the United States.

The National Assembly's Foreign Affairs and Unification Committee convened a plenary session and passed the motion through bipartisan consensus.

Last month, Seoul and Washington inked a five-year deal on determining Seoul's share of its cost for the upkeep of the 28,500-strong U.S. Forces Korea (USFK), just days before the U.S. held its presidential election on Nov. 5.

Under the 12th Special Measures Agreement, which will last until 2030, South Korea will pay 1.52 trillion won ($1.19 billion) in 2026, up 8.3 percent from 1.4 trillion won in 2025.

The deal came amid speculation that Korea was seeking to strike an early deal to apparently avoid tough negotiations if former President Donald Trump returns to office. Trump had demanded a hefty rise in Seoul's share to as much as $50 billion during his term, calling the ally a free rider on U.S. military power.

Yonhap