Daily Current Affairs 2021 South Korea to boost funding for US troops under new accord: State Department | Daily Current Affairs 2021

South Korea to boost funding for US troops under new accord: State Department

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The agreement reflects the Biden administration’s “commitment to reinvigorating and modernizing our democratic alliances around the word to advance our shared security and prosperity,” a State Department spokeswoman said.

The proposed six-year “Special Measures Agreement” will replace the previous arrangement that expired at the end of 2019.

The spokeswoman said the agreement included a “negotiated meaningful increase in host nation support contributions,” but gave no further details.

There are about 28,500 U.S. troops stationed in South Korea as deterrence against North Korea. More than 90% of Seoul’s contributions under the previous agreement went directly back into the South Korean economy, the spokeswoman added.

The negotiations had been gridlocked after former U.S. President Donald Trump rejected Seoul’s offer to pay 13% more, for a total of about $1 billion a year, and demanded as much as $5 billion. Seoul currently pays Washington about $920 million a year.

The deal must still be approved by the South Korean legislature. South Korea’s Foreign Ministry confirmed an agreement in principle in a statement, but offered no specifics.

“Both sides will make a public announcement and hold a tentative signing ceremony after completing internal reporting procedures. The government will resolve to sign an agreement in a swift manner to resolve its vacuum that has lasted more than a year,” the ministry added.

President Joe Biden has vowed to revitalize U.S. alliances after four years of strains under Trump and build a united front to counter the challenges posed by Russia, China and Iran.

“Mr. Trump did what he believed was right and I respect his opinion, but more than anything else, I was disappointed at the way he asked,” said Chun In-bum, a retired South Korean general and special forces commander who worked with the American military.

Source: DD News

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