Trump says ‘money machine’ S. Korea should pay more to host US troops

Oct 17, 2024, 10:13 am

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US Republican presidential nominee and former U.S. President Donald Trump speaks at the Economic Club of Chicago, U.S. on Oct. 15, 2024./ Source: AFP-Yonhap News

Washington correspondent Ha Man-joo

Former U.S. President Donald Trump said Tuesday that South Korea would be paying $10 billion a year for the stationing of the U.S. Forces Korea (USFK) if he was in the White House, calling the Asian ally as a “money machine.”

Trump made the remarks during an interview with the Economic Club of Chicago held in Chicago. “If I were there (White House) now, they would be paying us $10 billion a year. And you know what? They’d be happy to do it,” he said.

Trump confirmed that he initially demanded South Korea pay $5 billion a year when he was in office, but South Korea was reluctant, saying the parliament could not agree. Then he tried to demand $2 billion first and raise it to $5 billion next time. Trump claimed that South Korea broke negotiations with him when Joe Biden was elected, and that they are not paying for 40,000 U.S. troops in the country, referring to 28,500 USFK personnel.

Seoul and Washington signed a six-year Special Agreement on Defense Cost Sharing (SMA) by 2025, concluding the defense cost-sharing deals, which had been drifting for more than a year under the Trump administration, on March 8, 2021, 46 days after the inauguration of the Biden administration. Under the deal, Seoul agreed to pay 1.389 trillion won in 2020, and 1.1833 trillion won, an increase of 13.9 percent in 2021.

Earlier this month, South Korea and the U.S. reached the 12th SMA to determine Seoul’s share of the cost for the upkeep of US troops. Under the deal, Seoul is to pay 1.52 trillion won in 2026, up from 1.4 trillion won in 2025. The deal links an annual increase in Seoul’s SMA contributions to the Consumer Price Index.

The $10 billion a year mentioned by Trump is nearly nine times the amount South Korea will pay after 2026.

As a result, concerns have surfaced that should Trump be elected in November, he could demand negotiations of the deal.

#Trump #USFK #South Korea