The US and South Korea have reached a new cost-sharing deal for hosting American forces on the Korean Peninsula, just a month ahead of the US election.

The US and South Korea have reached a tentative new five-year cost-sharing agreement for US forces based in South Korea, the State Department announced Friday, in a deal that would safeguard the long-running alliance ahead of a potential victory by former President Donald Trump in November.

The United States and South Korea have tentatively agreed to a new deal covering the costs of maintaining the American military presence there

The United States and South Korea on Friday agreed on a new five-year plan on sharing the cost of keeping American troops in South Korea, South Korea's foreign ministry and the U.S. Department of Statement said.

The United States and South Korea on Friday announced a new cost-sharing deal that would see Seoul spend more to host American troops. State Department spokesperson Matthew Miller said the agreement was reached on a new five-year Special Measures Agreement with South Korea after eight rounds of negotiations.