ID :
40928
Fri, 01/16/2009 - 10:43
Auther :
Shortlink :
https://www.oananews.org//node/40928
The shortlink copeid
Stephens says Seoul's defense cost sharing is 'investment' in alliance
By Lee Chi-dong
SEOUL, Jan. 15 (Yonhap) -- The top U.S. envoy in South Korea said Thursday that
the latest agreement between the allies on sharing the cost of stationing
American troops here is a "worthwhile investment" for the future alliance.
"This agreement supports the efforts of both of our nations to defend the
Republic of Korea for years to come," Ambassador Kathleen Stephens said in a
ceremony to sign the Special Measures Agreement (SMA) along with Foreign Minister
Yu Myung-hwan. "I can't think of a more worthwhile investment than that."
"Today's signing ceremony is yet another tangible sign of a great degree of
cooperation that exists between our two nations," the envoy added.
Under the deal, South Korea will pay 760 billion won (US$571 million) this year
to help the U.S. maintain 28,500 troops on the peninsula, a legacy of the 1950-53
Korean War.
Seoul has agreed to increase its share each year until 2013 in accordance with
the consumer price index, using the 2008 rate for its 2010 contribution, the 2009
rate for 2011, the 2010 rate for 2012, and the 2011 rate for 2013.
"The inflation rate used for any given year shall not exceed four percent," the
agreement stipulates.
South Korea's Cabinet approved the pact earlier this month before seeking
ratification by the National Assembly, which will likely pass the deal in
February.
Seoul provided the U.S. with 725.5 billion won in cash last year and paid the
same amount this year with an adjustment for inflation.
South Korea will also reduce its cash assistance within the next three years,
providing facilities instead in an effort to enhance transparency in the
burden-sharing arrangement.
The ratio of South Korea-funded construction will be raised gradually to 30
percent in 2009, 60 percent in 2010, and 88 percent in 2011.
The remaining 12 percent needed for design and oversight of construction works
will be paid continuously in cash.
South Korea has been sharing U.S. troop maintenance costs since 1991.
lcd@yna.co.kr
(END)
SEOUL, Jan. 15 (Yonhap) -- The top U.S. envoy in South Korea said Thursday that
the latest agreement between the allies on sharing the cost of stationing
American troops here is a "worthwhile investment" for the future alliance.
"This agreement supports the efforts of both of our nations to defend the
Republic of Korea for years to come," Ambassador Kathleen Stephens said in a
ceremony to sign the Special Measures Agreement (SMA) along with Foreign Minister
Yu Myung-hwan. "I can't think of a more worthwhile investment than that."
"Today's signing ceremony is yet another tangible sign of a great degree of
cooperation that exists between our two nations," the envoy added.
Under the deal, South Korea will pay 760 billion won (US$571 million) this year
to help the U.S. maintain 28,500 troops on the peninsula, a legacy of the 1950-53
Korean War.
Seoul has agreed to increase its share each year until 2013 in accordance with
the consumer price index, using the 2008 rate for its 2010 contribution, the 2009
rate for 2011, the 2010 rate for 2012, and the 2011 rate for 2013.
"The inflation rate used for any given year shall not exceed four percent," the
agreement stipulates.
South Korea's Cabinet approved the pact earlier this month before seeking
ratification by the National Assembly, which will likely pass the deal in
February.
Seoul provided the U.S. with 725.5 billion won in cash last year and paid the
same amount this year with an adjustment for inflation.
South Korea will also reduce its cash assistance within the next three years,
providing facilities instead in an effort to enhance transparency in the
burden-sharing arrangement.
The ratio of South Korea-funded construction will be raised gradually to 30
percent in 2009, 60 percent in 2010, and 88 percent in 2011.
The remaining 12 percent needed for design and oversight of construction works
will be paid continuously in cash.
South Korea has been sharing U.S. troop maintenance costs since 1991.
lcd@yna.co.kr
(END)
