Approval of the Korea-US Special Agreement on Defense Cost-Sharing Ratification Passed in the Foreign Affairs and Unification Committee

Agreement Reached on the 11th Special Measures Agreement on Defense Cost-Sharing between Korea and the US Last March

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The ratification consent bill for the Special Measures Agreement (SMA) on defense cost-sharing between South Korea and the United States has passed the National Assembly's Foreign Affairs and Unification Committee (FAUC).

On the 23rd, the FAUC held a plenary session and approved the "Ratification Consent Bill for the Agreement between the Republic of Korea and the United States of America on Special Measures Regarding Article 5 of the Agreement under Article 4 of the Mutual Defense Treaty between the Republic of Korea and the United States of America concerning Facilities and Areas and the Status of United States Forces in the Republic of Korea."

All members of the Democratic Party of Korea and the People Power Party who attended the plenary session supported the ratification consent bill. However, two members, Lee Tae-gyu of the People Party and Kim Hong-gul, an independent, abstained, citing that the rate of increase was unreasonable.

Earlier in March, South Korea and the United States concluded the 11th SMA. The contribution amount increased by 13.9% from last year to 1.1833 trillion won and will rise annually over the next four years reflecting the defense budget increase rate.

While agreeing to the ratification, the FAUC pointed out that South Korea's burden has significantly increased. In its committee opinion, the FAUC stated, "Linking the defense cost-sharing amount to the defense budget increase rate greatly increases South Korea's burden," and added, "The government should fully recognize the National Assembly's serious concerns regarding this and actively strive to improve the sharing criteria to a reasonable standard in future negotiations."

This content was produced with the assistance of AI translation services.