Washington and Seoul have reached an agreement on sharing the cost of maintaining U.S. military presence in South Korea with an increased contribution from the host country.

The consensus over the Special Measures Agreement (SMA) was reached following multiple rounds of negotiations after the last security arrangement expired in late 2019.

"We are pleased that U.S. and Republic of Korea negotiators have reached consensus on a proposed text of a Special Measures Agreement (SMA) that will strengthen our Alliance and our shared defense," said a spokesperson for the U.S. State Department.

The proposed agreement contained a "negotiated meaningful increase" in South Korea's contribution, the spokesperson said without providing further details.

The two sides are pursuing the final steps needed to conclude the agreement for signature and entry into force.

The 10th SMA was reached in March 2019 and expired at the end of that year. The United States and South Korea held multiple rounds of negotiations on the 11th SMA, but they failed to reach an agreement after then U.S. President Donald Trump demanded a sharp increase in Seoul's contribution.

Trump's administration initially asked South Korea to pay the United States $5 billion annually, which would have been more than a fivefold increase from the $870 million Seoul paid in 2019.

Since 1991, South Korea has shared the upkeep cost for U.S. soldiers, including costs for South Korean civilians hired by the U.S. Forces Korea (USFK), construction of military installations, and logistics support.

Currently, about 28,500 U.S. troops are stationed in South Korea.

(With input from Xinhua)