South Korea and the United States have formally signed a renewed defense cost-sharing deal that was reached early last month.
First Vice Foreign Minister Choi Jong-kun and Robert Rapson, charge d'affaires ad interim at the U.S. Embassy in Seoul, inked the allies' 11th Special Measures Agreement in a ceremony Thursday afternoon.
Seoul agreed to increase its share of the cost for stationing American service members on the Korean Peninsula by 13.9 percent from the previous year, according to the ministry.
Under the six-year deal with Washington, Seoul will pay 1.18 trillion won from this year for the upkeep of the 28,500-strong U.S. Forces Korea.
The SMA will take effect after it receives approval from the South Korean parliament.
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