South Korea's Defense Cost Sharing

This is a South Korea news story, published by CNBC, that relates primarily to Biden news.

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South Korean government

CNBC

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World

Trump wants a 'one-stop shopping' deal with South Korea on trade and defense, but there is a cost

Summary

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83% Informative

South Korea is home to about 28,500 U.S. troops known as US . Forces Korea .

The country's two leading presidential candidates have hinted that they are open to discussing a defense cost-sharing agreement.

South Korea spent 2.6% of its GDP on defense in 2024 , more than the global average of 2.5% .

In terms of logistics, the equipment, services, and facilities are all supplied by Korean companies," Nam highlighted. In October 2024 , Seoul agreed to raise its contribution for hosting U.S. troops by 8.3% in 2026 , to 1.52 trillion won ( $1.13 billion ). However, Trump 's ' one stop shopping' stance to bundle trade with defense agreements could throw the latest cost-sharing agreement by the Biden administration into jeopardy, given that the 2024 agreement covers the period of 2026-2030 ..