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S. Korea to increase its contribution for U.S. forces under a new deal

S. Korea to increase its contribution for U.S. forces under a new deal
S. Korea to increase its contribution for U.S. forces under a new deal

The Government of South Korea, as part of a new deal with the United States, will reportedly be increasing its financial contribution towards the cost of U.S. forces stationed in the country, alleviating an irritant in relations between the two allies.

According to a State Department spokeswoman, the deal reflects the Biden administration’s commitment to modernizing and reinvigorating U.S.’s democratic alliances at the global level for the advancement of the country’s shared prosperity and security.

There are nearly 28,500 U.S. troops stationed in South Korea as a deterrent against North Korean aggression. Previously, over 90 per cent of South Korea’s contributions as per the prior agreement went directly back into its economy, cited the spokeswoman.

The negotiations between the two countries had been deadlocked after previous U.S. President, Donald Trump, dismissed Seoul’s offer to raise the payment by 13 per cent, an overall sum of nearly $1 billion a year, and asked for as much as $5 billion. Presently, South Korea pays nearly $920 million a year to the United States.

As per reliable sources, the proposed “Special Measures Agreement” will be effective for a period of six years and will replace the earlier agreement that came to an end on 31st December 2019. As per the spokeswoman, the deal comprised a negotiated meaningful upsurge in host nation support contributions.

Following the expiry of the previous pact, nearly 4,000 S. Koreans in service of the U.S. military were left on unpaid leave, evoking the two nations to proceed for a stopgap agreement for letting them return to work.

Last month, the United States reached an agreement with Japan regarding Tokyo’s contribution to the stationing of nearly 55,000 U.S. forces, keeping the annual costs of Japan steady at almost $1.9 billion.

For the record, President Joe Biden has vowed for revitalizing U.S. alliances following four years of strains under Trump and developing a united front for countering the challenges posed by Iran, Russia, and China.

Source credit: https://www.voanews.com/usa/south-korea-boost-funding-us-troops-under-new-accord-us-says

 

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Nandita holds a management degree with specialization in marketing, and boasts of a short-term experience in the field of recruitment. Following her passion for writing however, she decided to pursue a career in the field of content development. Presently, Nandita pens down news pieces for newsorigins.com, spanning the verticals of business, finance, and technology.