SEOUL, March 20 (UPI) -- South Korea and the United States have agreed to evenly share the cost of relocating U.S. military bases, Seoul officials said Tuesday.
Unveiling a long-awaited "master plan" for the military relocation project, valued at around 11 trillion won ($11.7 billion), Seoul's Defense Ministry said South Korea will pay about 5.6 trillion won, and the remaining will be shouldered by the United States.
South Korea will spend 1 trillion won for the purchase of land and 4.6 trillion won for the construction of facilities, ministry officials said.
The plan comes after 17 months of negotiations between the two countries over how to share the cost of military base relocations.
U.S. military plans to relocate its troops deployed close to the border with North Korea to south of Seoul, the key part of the realignment of U.S. bases in South Korea.
