South Korea proposes economic, security deal in tariff talks with US

ISTANBUL/ANKARA

South Korea has proposed a "package deal" Wednesday, which includes economic and security considerations amid trade negotiations with Washington, Yonhap News reported.

National Security Adviser Wi Sung-lac proposed the deal and suggested an early meeting between South Korean President Lee Jae Myung and US President Donald Trump.

Wi said that during his visit to Washington, he and US Secretary of State Marco Rubio discussed “a range of issues spanning trade, investment, procurement and security, and suggested moving forward with negotiations by taking this comprehensive package into account."

He noted that Rubio expressed support for Wii’s proposal for holding a meeting between the two nations at an early date, without giving specifics.

The development came after Seoul on Wednesday reaffirmed its commitment to the existing defense cost-sharing agreement with the US, following comments by President Donald Trump suggesting Seoul should cover the full cost of its own defense.

"Our government's stance is that it will implement the 12th SMA (Special Measures Agreement), which was validly concluded and in effect," said the South Korean Foreign Ministry.

The two countries signed the 12th SMA last year, under which Seoul will pay 1.52 trillion won ($1.11 billion) next year, up from 1.4 trillion won this year.

On Tuesday, Trump said that South Korea pays the US very little for the deployment of American troops, and now they should pay for their own defense.

South Korea hosts some 28,500 US soldiers, an arrangement that started in the wake of the Korean War of 1950-1953.

Last month, South Korea's Wi Sung-lac said that NATO's hike in defense spending carries implications for his country, as Seoul is facing US demand to increase defense spending.

Earlier, the South Korean Defense Ministry said that the share of its defense spending against GDP is "very high" as compared with other major US allies.

*Writing by Islamuddin Sajid