South Korea and the United States are expected to start negotiations on the terms of their new defense cost-sharing agreement next month.

South Korea's Foreign Ministry official told reporters on Thursday that the two sides are soon expected to finalize the dates, adding that the talks will likely begin in mid-September, following the Chuseok holiday.

Under the current one-year Special Measures Agreement(SMA) set to expire on December 31, Seoul agreed to pay one-point-04 trillion won this year, an increase of eight-point-two percent from 960 billion won last year.

Earlier this month, U.S. President Donald Trump claimed on Twitter that Seoul has agreed to pay "substantially more" to station American troops on the Korean Peninsula, an assertion Seoul denied.

Seoul had said the two sides agreed to conduct discussions on the new deal in a "reasonable and fair" way.