South Korea’s defense budget for 2017 will rise to around KRW40.3 trillion (estimated USD34.3 billion), the first time it has gone over KRW40 trillion since the nation’s foundation, the Ministry of National Defense (MND) announced on Monday.

The increase is equivalent to roughly ten percent of South Korea’s entire annual budget for 2017.

“It is a norm for the defense improvement expenditure be cut off at KRW200 billion (USD170 million) during the examination process by the National Assembly,” an official from the MND said on Monday.

“Instead the expense was increased by KRW38 billion this time,” said the official, adding that