The ruling People Power Party has urged the opposition-controlled National Assembly to quickly approve a new defense cost-sharing agreement between South Korea and the United States. The agreement, known as the Special Measures Agreement, was signed by Seoul and Washington just before the upcoming US presidential election on November 5. South Korea has agreed to pay 1.52 trillion won ($1.14 billion) in 2026 to support the 28,500-strong US Forces Korea, representing an 8.3 percent increase from the previous year. The People Power Party emphasized the importance of ratifying the deal promptly to enhance the joint defense capabilities of South Korea and the US, fostering mutual trust and cooperation. The party stressed the need for the agreement to be consistently upheld regardless of any political changes, especially in light of uncertainties surrounding the potential return of former US President Donald Trump and his previous demands for a significant increase in South Korea's financial contribution to $5 billion.
The ruling People Power Party has urged the opposition-controlled National Assembly to quickly approve a new defense cost-sharing agreement between South Korea and the United States. The agreement, known as the Special Measures Agreement, was signed by Seoul and Washington just before the upcoming US presidential election on November 5. South Korea has agreed to pay 1.52 trillion won ($1.14 billion) in 2026 to support the 28,500-strong US Forces Korea, representing an 8.3 percent increase from the previous year. The People Power Party emphasized the importance of ratifying the deal promptly to enhance the joint defense capabilities of South Korea and the US, fostering mutual trust and cooperation. The party stressed the need for the agreement to be consistently upheld regardless of any political changes, especially in light of uncertainties surrounding the potential return of former US President Donald Trump and his previous demands for a significant increase in South Korea's financial contribution to $5 billion.