The probability of the Olympic bid, however, relies on the state of North Korea's nuclear and ballistic program.
About 70 percent of South Korea's contribution covers the salaries of some 8,700 South Korean employees who provide administrative, technical and other services for the USA military.
At their first meeting in Singapore a year ago, the notoriously unpredictable US president had made a shock decision to suspend US-South Korea military drills. Bargaining for 2020 funding is likely to restart in months. On Sunday, Seoul's Foreign Ministry said the countries signed a short-term agreement. In those, the US had asked South Korea to pay the costs of operating strategic assets, but Seoul said those do not fall under the original scope of the allies cost-sharing agreements, which are meant mainly to pay for the salaries of South Koreans working at USA military bases in the country and costs related to facility construction and logistics.
President Donald Trump's pick to lead the World Bank vowed yesterday to cooperate with South Korea on developing North Korea and other various sectors, the finance ministry here said. US intelligence is not certain how many nuclear warheads North Korea has.
The allies had struggled to reach a breakthrough despite 10 rounds of talks since March, amid Trump's repeated calls for a sharp increase in South Korea's contribution. The two sides had also difficulty on the final amount, as the Trump administration reportedly demanded an annual sum of around one billion dollars when the negotiations were close to an end late previous year. Yonhap said the USA had previously demanded 1.13 trillion won ($1 billion) from South Korea.
But both sides worked to hammer out an agreement to minimise the impact on South Koreans working on USA military bases, and focus on nuclear talks ahead of a second U.S.
Overall, the study says North Korea "rolled back the threat" researchers believed Pyongyang to pose in 2017.
The ministry said that although the USA had demanded a "huge increase" in payment, they were able to reach an agreement that reflects "the security situation of the Korean peninsula". Washington's top negotiator, Betts, also met with South Korea's Foreign Minister, Kang Kyung-wha, before signing the agreement.
Trump said in his annual State of the Union address to the U.S. Congress on Tuesday that he would meet North Korean leader Kim Jong Un on February 27-28 in Vietnam, following their unprecedented meeting in June in Singapore.
"The two leaders, from South Korea, President Moon [Jae-in], and from North Korea, Chairman Kim [Jong-un], have asked us to continue to support their talks of rapprochement through actions in sport", said Thomas Bach, the International Olympic Committee president.
The Singapore summit resulted in a joint agreement in which Kim committed to denuclearize his nation, pursue peace with South Korea, establish relations with the United States, and repatriate the remains of American soldiers.