By Chung Min-uck
The main opposition Democratic Party (DP) on Tuesday pledged to scrutinize the latest defense cost-sharing deal between Korea and the U.S. during passage of a proposed bill to enact the agreement through parliament.
"The deal which calls for Seoul to pay almost 1 trillion won a year to the United States Forces Korea (USFK) is the result of a hasty negotiation that acceded to unilateral demands from the U.S.," said Rep. Jun Byung-hun, floor leader of the DP. "Our party will closely analyze the bill during the ratification process and take practical steps during the verification process."
The USFK cost-sharing bill is subject to parliamentary approval and is expected to be introduced next month during the extra session of the Assembly.
Seoul last week agreed to pay 920 billion won ($866 million) to Washington this year to share the cost of keeping American troops here, representing a 5.8 percent increase from 869.5 billion won that Seoul paid in 2013.
The new USFK cost-sharing agreement is expected to put Korea's share of the cost at above 1 trillion won before it expires in 2018 because of the inflation rate which can be reflected in the original cost annually by as much as 4 percent.
Government officials claim that improving transparency concerning the USFK's defense fund use is beneficial enough to offset the rise in Seoul's financial burden.
The U.S. has agreed to provide Korea with a report twice a year detailing the unspent cash.
Washington also agreed that the Korean government can submit a similar report to parliament in a manner that does not divulge classified military information.
Additionally, the two sides further agreed to hold discussions before the USFK allocates the money paid to Korean workers, local construction work, and supply and service contracts.
Officials say that such measures will greatly help prevent the U.S. forces from misusing the funds.
Commenting on suspicions that the USFK has been receiving bank interest after depositing unspent funds worth 700 billion won, a government official said Tuesday, "The U.S. has saved the money in the so-called ‘community bank' that doesn't accumulate any interest."
"Most of the amount is set aside for base relocation plans and this takes up more time compared to spending on other matters because of its sensitive nature," the official added.
However, the DP insists that such measures would not enhance the transparency of U.S. spending.
"Despite changes in the system, we still cannot look into the specific classification of the USFK's spending list," said Rep. Woo Sang-ho, a DP and parliamentary foreign affairs committee member. "We will raise questions regarding the matter during the parliamentary approval process."
The main opposition Democratic Party (DP) on Tuesday pledged to scrutinize the latest defense cost-sharing deal between Korea and the U.S. during passage of a proposed bill to enact the agreement through parliament.
"The deal which calls for Seoul to pay almost 1 trillion won a year to the United States Forces Korea (USFK) is the result of a hasty negotiation that acceded to unilateral demands from the U.S.," said Rep. Jun Byung-hun, floor leader of the DP. "Our party will closely analyze the bill during the ratification process and take practical steps during the verification process."
The USFK cost-sharing bill is subject to parliamentary approval and is expected to be introduced next month during the extra session of the Assembly.
Seoul last week agreed to pay 920 billion won ($866 million) to Washington this year to share the cost of keeping American troops here, representing a 5.8 percent increase from 869.5 billion won that Seoul paid in 2013.
The new USFK cost-sharing agreement is expected to put Korea's share of the cost at above 1 trillion won before it expires in 2018 because of the inflation rate which can be reflected in the original cost annually by as much as 4 percent.
Government officials claim that improving transparency concerning the USFK's defense fund use is beneficial enough to offset the rise in Seoul's financial burden.
The U.S. has agreed to provide Korea with a report twice a year detailing the unspent cash.
Washington also agreed that the Korean government can submit a similar report to parliament in a manner that does not divulge classified military information.
Additionally, the two sides further agreed to hold discussions before the USFK allocates the money paid to Korean workers, local construction work, and supply and service contracts.
Officials say that such measures will greatly help prevent the U.S. forces from misusing the funds.
Commenting on suspicions that the USFK has been receiving bank interest after depositing unspent funds worth 700 billion won, a government official said Tuesday, "The U.S. has saved the money in the so-called ‘community bank' that doesn't accumulate any interest."
"Most of the amount is set aside for base relocation plans and this takes up more time compared to spending on other matters because of its sensitive nature," the official added.
However, the DP insists that such measures would not enhance the transparency of U.S. spending.
"Despite changes in the system, we still cannot look into the specific classification of the USFK's spending list," said Rep. Woo Sang-ho, a DP and parliamentary foreign affairs committee member. "We will raise questions regarding the matter during the parliamentary approval process."
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