South Korea and the US formally signed a protection cost-sharing settlement Monday, as Seoul seeks to hurry up its home ratification process to make sure the steady stationing of American troops right here forward of the US elections.
The signing got here a month after the allies reached a brand new five-year deal on figuring out Seoul’s share of its price for the maintenance of the 28,500-strong US Forces Korea.
International Minister Cho Tae-yul and US Ambassador to South Korea Philip Goldberg signed the deal, often known as the Particular Measures Settlement, on the international ministry in Seoul, officers mentioned.
Underneath the twelfth SMA, which is able to final till 2030, South Korea pays 1.52 trillion gained ($1.19 billion) in 2026, up 8.3 p.c from 1.4 trillion gained in 2025.
The deal hyperlinks an annual improve in Seoul’s SMA contributions to the patron value index, a shift from the present deal tying the rise to an annual rise in South Korea’s protection price range.
“The settlement signed at present will probably be submitted to the Nationwide Meeting on the earliest date for ratification,” the international ministry mentioned in a launch.
“The settlement is predicted to tremendously contribute to offering circumstances for the steady stationing of the USFK and strengthening the South Korea-US joint protection posture,” it mentioned.
The signing additionally got here simply days earlier than the US holds its presidential election Tuesday. Seoul and Washington launched the negotiations to resume the SMA in April at an earlier time than anticipated.
The transfer has been seen as Seoul meaning to strike a brand new deal earlier than a possible return of former US President Donald Trump to the White Home. Trump had demanded a hefty rise in Seoul’s share to as a lot as $50 billion throughout his time period, calling the ally a free-rider on US army energy.
Throughout this 12 months’s marketing campaign, Trump described South Korea as a “very rich” nation and a “cash machine,” suggesting that the US might pull out its troops from South Korea if Seoul doesn’t make extra monetary contributions to assist them.
Since 1991, Seoul has partially shouldered prices beneath the SMA for Korean USFK staff; the development of army amenities; and different logistical assist.
