Initially it looks like the Korean government got the deal they wanted in regards to the upkeep of US forces in Korea:

Korea is expected to pay roughly US$570 million next year to keep American soldiers stationed here. After five rounds of negotiations, the Foreign Ministry says it has agreed to raise its share of the costs of maintaining over 28,000 U.S. troops here by 2.5 percent to reflect inflation.

Although last year Seoul paid over $500 million in cash, within the next three years such payment will be gradually replaced by the provision of material goods like facilities and equipment.

The ministry says this is to enhance transparency in sharing defense costs, and it plans to seek parliamentary approval as soon as possible.  [Chosun Ilbo]

The US government has been demanding a 50/50 split for the upkeep of US forces in Korea and instead only got a 2.5% increase instead.  It was reported earlier this year that the Korean government currently pays 41% of the costs of maintaining US troops in Korea.  A 2.5% increase would put Korea’s total contribution to the USFK upkeep to 43.5% however that number is deceptive because the upkeep money is going to be transitioned from cash to goods.

The goods instead of cash proposal is something the Korean government has been trying to get the US to agree to because providing goods is cheaper then paying cash.  Since South Korea backed out of properly funding the USFK relocation, USFK has proposed using upkeep money to pay for the relocation which the Korean government only recently agreed to.  However, if the Korean government is paying with goods instead of cash, not only is it cheaper for them, but goods can’t be used to pay for relocation costs compared to a cash payment.

There will probably be more written about this deal in the coming days, but initially it looks like the Korean negotiators have won yet again.