Media: Seoul and Washington reach an agreement on funding US troops in South Korea

The Republic of Korea and the United States as a whole reached an agreement on a new agreement on the conditions for the deployment of the American military contingent and can sign it in the near future. This was reported on Wednesday by an informed source in the South Korean government to Yonhap.

Media: Seoul and Washington reach an agreement on funding US troops in South Korea

“In general terms, the parties reached the final stage of negotiations, only insignificant details remain,” the official stressed. According to him, soon this can be announced officially. At the same time, the source refused to provide specific details about the agreements, including he did not specify the period for which a new agreement will be concluded, and the amounts involved.

On Tuesday, the head of the South Korean delegation, Jong Eun Bo, said that the parties during their daily contacts managed to “significantly bring together positions” on this issue. Due to the lack of agreement, South Korean citizens working at US military bases were sent on unpaid leave due to lack of funding.

In mid-March, the delegations of the two countries held another round of negotiations in Los Angeles, California, but could not reach a compromise regarding the share of Seoul’s expenses for the maintenance of American troops deployed on the Korean peninsula. The US insisted on a fourfold increase in spending by the South Korean side, that is, up to $ 4 billion a year. Seoul considers this amount unrealistically overpriced.

Since 2018, Washington has been requiring Seoul to increase its contribution to the US contingent in the Republic of Korea. South Korean spending on joint defense in 2019 was increased by 8.2%, to 1.04 trillion won ($ 915 million).

US troops have been in South Korea since the Korean War of 1950-1953. The conditions of their stay are governed by an agreement signed by the two countries on January 26, 1950.