An original bill relating the security relationship between the United States and the Republic of Korea.

Expresses the sense of the Congress that: (1) the United States should reassess the missions, force structure, and locations of its military forces in the Republic of Korea (South Korea) and East Asia; (2) South Korea should assume increased responsibility for its own security; (3) South Korea should offset more of the direct costs incurred by the United States in deploying military forces for the defense of South Korea; and (4) the United States and South Korea should consult on the feasibility and desirability of partial, gradual reductions of U.S. military forces in South Korea. Directs the President to submit to the Congress specified reports on the status and results of such consultations.

Requires the President to submit to specified congressional committees a report on the U.S. military presence in South Korea and East Asia, including: (1) a strategic plan relating to the continued U.S. presence in such areas; and (2) a five-year plan with respect to the U.S. military presence in South Korea.