The defense cost issue was discussed at the 17th Korea-U.S. Integrated Defense Dialogue (KIDD) that the two countries held via video conference.
Seoul's Defense Ministry said on Thursday that the two sides assessed joint efforts made so far for the conclusion of a new cost-sharing deal, known as the Special Measures Agreement(SMA).
The ministry said the allies stressed that the deal should be reached at a fair and mutually agreeable level so as to continue to strengthen the alliance and joint readiness posture.
The two sides also shared assessments of North Korea's recent missile launches and reaffirmed close cooperation regarding North Korea issues, agreeing to enhance cooperation to achieve the North's complete denuclearization.
The Pentagon also released a joint press statement, saying that the two sides pledged to continue close communication and cooperation to maintain and strengthen the combined readiness posture of the South Korea-U.S. alliance, which serves as the "linchpin" of peace and stability on the Korean Peninsula and in the Northeast Asian region.