You are here: Home » News-IANS » Defence-Security
Business Standard

S. Korea signs cost-sharing deal with US for American troops

IANS  |  Seoul 

on Sunday signed a deal with the US to raise its contribution to the upkeep of American troops here by 8.2 per cent this year.

Top negotiators of the two sides inked the agreement in Seoul, under which will pay 1.03 trillion won ($890 million) for the operation of the 28,500-strong US Forces Korea (USFK), up from 960 billion won in 2018, reports

met Timothy Betts, the top US delegate to the Special Measures Agreement (SMA) talks, minutes before the signing ceremony.

Kang said the latest SMA negotiations were a "very long process but ultimately a very successful process".

Betts emphasised the importance of the alliance for peace and stability in the region.

The US has reaffirmed that there will be no change in American troop levels in

The previous agreement signed in 2014 expired at the end of 2018.

South Korea has shared the financial burden for USFK since the early 1990s. The funds are used to cover the wages of South Korean workers at USFK bases, construction and logistical support.

Meanwhile, a group of progressive activists staged a rally on Sunday in front of the against the deal, claiming it would increase Seoul's burden excessively.

--IANS

ksk/bg

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, February 10 2019. 14:46 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU