South Korea and the United States have agreed to extend their eighth round of negotiations on cost sharing regarding American troops stationed on the Korean Peninsula.

According to a Foreign Ministry official on Wednesday, the latest two-day talks in Seoul were set to end that day, but the two sides decided to meet again on Thursday. They reportedly have yet to decide on whether the talks will continue into Friday.  

Officials from the two sides have to decide on new terms for the bilateral Special Measures Agreement set to take effect next year.

Under the current five-year contract which will expire on December 31st, Seoul's cost-sharing for stationing the 28-thousand-500-member U.S. Forces Korea for this year is set at around 960 billion won or 856 million dollars.