The new deal must still be approved by South Korea's parliament, but it would boost its contribution to 1.03 trillion won ($890 million) from 960 billion won in 2018. Unlike past agreements, which lasted for five years, this one is scheduled to expire in a year, potentially forcing both sides back to the bargaining table within months. "It has been a very long process, but ultimately a very successful process," South Korean Foreign Minister Kyung-wha said at a meeting before another official from the foreign ministry initialled the agreement.
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