A national security crisis is brewing on the Korean Peninsula amid fears the Trump admin and South Korea could fail to reach agreement on a new cost-sharing formula for keeping US troops there, according to several senior US military and defense officials.
If a new agreement is not reached by the beginning of April, as many as 9,000 Korean workers could be furloughed from their jobs on various US military installations, a move that could undermine the US military mission amid tensions with North Korea, top officials say. The dispute over the cost of the 28,500 US troops stationed on the Korean peninsula erupted after President Donald Trump asked for a 400% increase in South Korea's contribution under the so-called Special Measures Agreement.
"The current deal, which boosted South Korea's contribution from about $800 million to nearly $1 billion, was agreed upon and signed in February last year, more than a month after the previous arrangement expired on December 31, 2018.While previous agreements had been for five-year terms, last year the US and South Korea negotiated a year-long extension to buy time to reach a longer-term arrangement.
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