May 29, 2024

ROK to spend over $84 billion on new military capabilities over five years: MND

Seoul says funds will help respond to "nuclear and WMD threats," but makes no mention of North Korea

The South Korean military will increase its budget for improving military capabilities by 10.8 percent on average for the next half-decade, the Ministry of National Defense (MND) announced in a five-year plan on Friday.

The "medium-term plan" for 2019 to 2023 will see the government allocate a total of KRW 270.7 trillion (USD$242 billion) to defense.

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