Herbert Pell: “this amendment provides the Department of Defense with authority to transfer obsolete or surplus United States military…”

“this amendment provides the Department of Defense with authority to transfer obsolete or surplus United States military equipment to South Korea from war reserve stockpiles located in South Korea. The equipment in question includes ammunition, old M-48 tanks, artillery, and repair parts. This provision was requested by the administration. It is necessary because section 514 of the Foreign Assistance act requires that any such transfer be specifically authorized by legislation. The United States no longer needs the equipment in question, and South Korea is the only country that has expressed an interest in it. In exchange for receiving the equipment, South Korea would provide the United States with concessions that would be at least equal to the transferred equipment's fair market value. The Department of the Army has informed the Committee on Foreign Relations that passage of this legislation will benefit the United States by more than $200 million in cost avoidance through fiscal year 1996. Mr. President, this amendment is a good, but partial, solution to a lingering problem.”