The United States and South Korea struck a hurried deal on the cost of the U.S. military presence, papering over a potential vulnerability in an upcoming U.S.-North Korean presidential summit later this month. Under the agreement, South Korea will contribute about $890 million a year for the U.S. military presence, an 8.2 percent increase from the previous five-year deal that expired at the end of last year. That's less than the billion dollars or more the U.S. had asked for. South Korea was already paying half of the cost of hosting United States Forces Korea (USFK), and the U.S. reportedly asked for a 50 percent increase or more. The current deal still needs to be ratified by South Korean lawmakers before taking effect. Seoul had sought a...
READ MORE >
U.S. And South Korea Reach Deal On Military Costs