March 29, 2024
News

ROK defense budget rises, reaching KRW40 trillion for first time

ROK countermeasures to DPRK nuclear, missile threats see largest increases in funding

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.

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