Seoul and Washington formally signed the 11th Special Measures Agreement Thursday, a six-year defense cost-sharing deal, after 18 months of negotiations.
Seoul and Washington agreed to a six-year defense cost-sharing deal, with Korea paying 1.1833 trillion won ($1.037 billion) in 2021, an unprecedented 13.9 percent increase from the previous year, the Ministry of Foreign Affairs revealed Wednesday.
Korea and the United States reached agreement on defense cost-sharing Sunday after 18 months of wrangling and threats by the Donald Trump administration to charge Seoul up to $5 billion per year.
The U.S. Forces Korea (USFK) is due to issue notices to its Korean personnel about placing them on a two-month furlough without pay in April.
The defense cost-sharing negotiation between Seoul and Washington has stalled for almost two years but will resume in the Biden administration. The bilateral negotiation, which takes place in the form of the SMA (Special Measures Agreement)...
The Korean and U.S. negotiators for the defense cost-sharing agreement held their first talks since the U.S. presidential election, agreeing to swiftly reach a “fair and mutually acceptable deal,” Seoul’s Ministry of Foreign Affairs said Tuesday.
U.S. President Donald Trump told governors in February that he doesn't like “dealing” with South Korean President Moon Jae-in and thinks South Koreans are "terrible people," according to Maryland Gov. Larry Hogan.
The U.S. Department of Defense announced Tuesday it accepted Seoul’s proposal to fund the wages of all Korean personnel working for the U.S. Forces Korea (USFK) through the end of this year as defense cost-sharing negotiations continue to drag on.