The decision, which is subject to parliamentary approval, was announced by the ruling Uri Party.
South Korea has been one of the largest contributors of international forces in Iraq, with 2,300 troops there.
The announcement comes days after two other U.S. allies -- Britain and Poland -- said they would reduce the number of their troops in Iraq.
The International Coalition In Iraq
COALITION MEMBERS: In addition to the United States, 28 countries are Multi-National Force-Iraq (MNF-I) contributors as of May 31, 2006: Albania, Armenia, Australia, Azerbaijan, Bosnia-Herzegovina, Bulgaria, the Czech Republic, Denmark, El Salvador, Estonia, Georgia, Italy, Japan, Kazakhstan, Latvia, Lithuania, Macedonia, Moldova, Mongolia, the Netherlands, Poland, Portugal, Romania, Singapore, Slovakia, South Korea, Ukraine, and the United Kingdom. Fiji is participating as part of the UN mission in Iraq. Hungary, Iceland, Slovenia, and Turkey are NATO countries supporting Iraqi stability operations but are not part of MNF-I.
NON-U.S. MILITARY PERSONNEL IN IRAQ: United Kingdom, 8,000 as of May 26, 2006; South Korea, 3,237 as of May 9, 2006; Italy, 2,900 as of April 27, 2006; Poland, 900 as of May 30, 2006; Australia, 900 as of March 28, 2006; Georgia, 900 as of March 24, 2006; Romania, 860 as of April 27, 2006; Japan, 600 as of May 30, 2006; Denmark, 530 as of May 23, 2006; All others, 1,140.
(Source: The Washington-based Brooking Institution’s Iraq Index of June 15, 2006)
RADIO FREE IRAQ: To visit the Arab-language website of RFE/RL's Radio Free Iraq, click here.