United States will formally sign the 10th US-US military cost sharing agreement
South Korean Foreign Ministry officials said on the 7th that South Korea and the United States will officially sign the 10th US-US military cost sharing agreement this week.
The signing ceremony is scheduled to take place on the afternoon of the 8th at the Korean Ministry of Foreign Affairs in Seoul. South Korean Foreign Minister Kang Jing and the US Ambassador to South Korea Harry Harris participated.
Last month, the representatives of the two countries drafted the 10th US-US military cost sharing agreement, which stipulated that the Korean side would share about 920 million US dollars, an increase of 8.2% over the previous year. The agreement is valid for one year. Earlier this week, the South Korean government completed administrative procedures related to the agreement and obtained cabinet approval. In the follow-up, the South Korean government hopes that the agreement will be approved by the National Assembly before the end of this month, and it will strive to take effect in April this year.
The United States has been stationed in South Korea since 1953, and the existing garrison is about 28,500. Since 1991, Hanmei has signed nine US-US military expenses sharing agreements. The ninth agreement was signed in 2014 with a time limit of 5 years