New defense cost-sharing deal with U.S. officially takes effect

South Korea's chief negotiator Lee Tae-woo, right, and his U.S. counterpart, Linda Specht, shake hands during their meeting in Seoul, Oct. 4. Courtesy of Ministry of Foreign Affairs

South Korea's new defense cost-sharing deal with the United States for hosting American troops in the South in the 2026-2030 period formally took effect Friday, Seoul's foreign ministry said.

On Thursday, the National Assembly ratified the five-year Special Measures Agreement (SMA), enabling Seoul and Washington to exchange official letters confirming the completion of necessary domestic procedures for the agreement's implementation.

No congressional approval is required in the U.S.

Last month, Seoul and Washington inked the new agreement on determining Seoul's share of its cost for the upkeep of the 28,500-strong U.S. Forces Korea, just days before the U.S. held its presidential election on Nov. 5.

Under the 12th SMA, South Korea will pay 1.52 trillion won ($1.09 billion) in 2026, up 8.3 percent from 1.4 trillion won in 2025.

The deal came amid speculation that South Korea was seeking to strike an early deal to apparently avoid tough negotiations if former President Donald Trump returns to office.

Trump had demanded a hefty rise in Seoul's share to as much as $50 billion during his term, calling the ally a free rider on U.S. military power. (Yonhap)