SEOUL: South Korea and the United States (US) may conclude their drawn-out negotiations on defence cost sharing as early as Thursday, Yonhap news agency reported, quoting a ruling party lawmaker.
According to the ruling party lawmaker Seoul’s share would likely be set at around 1 trillion won ($889 million).
“The defence cost sharing negotiations have entered their final stage,” Rep Lee Soo Hyuck of the ruling Democratic Party told reporters.
“(The sides) have agreed to set the amount only for this year, and are in the process of narrowing their differences to around 1.05 trillion won (US$934.51 million),” said Lee, a member of the parliamentary committee on foreign affairs.
The amount is designed to reflect an 8.2-per cent increase in Seoul’s own defence spending in 2019, the lawmaker added.
Seoul paid about 960 billion won in 2018 as part of the cost to maintain 28,500 US troops here.
Previously, the allies renegotiated their burden sharing only once every five years.
The US is said to have demanded a minimum US$1 billion for 2019, along with annual renewal of the cost-sharing agreement.
Lee said Seoul and Washington may initial their newest agreement before the day is over, and that the agreement may be sent to parliament for ratification in April. – Bernama
