South Korea and the United States reaffirmed their commitment to strike a deal on renewing their agreement on sharing costs for the upkeep of American troops on the Korean Peninsula.

Following a meeting with U.S. Deputy Secretary of State Stephen Biegun on Wednesday, First Vice Foreign Minister Cho Sei-young said the two sides agreed to work towards a mutually acceptable outcome as soon as possible.

The vice minister said Seoul and Washington agreed to closely consult on President Donald Trump's invitation last month for President Moon Jae-in to attend the next Group of Seven(G7) summit and to possibly extend the scope of the meeting.

Cho said he exchanged views on the state of affairs on the Korean Peninsula, U.S.-China relations and South Korea-Japan ties with his counterpart.

The officials also agreed to seek ways to work together in enforcing Seoul's New Southern Policy and Washington's Indo-Pacific strategy under the principles of openness, transparency and inclusivity.