Seoul allocates $1 billion to inter-Korean fund to realize "peace economy" | NK News
June 13, 2024
News

Seoul allocates $1 billion to inter-Korean fund to realize “peace economy”

South Korean military simultaneously unveils its over KRW50 trillion defense budget

The South Korean government announced on Thursday it will increase its Inter-Korean Cooperation Fund by 10.3 percent to more than $1 billion for 2020 to implement the “peace economy," allocating $403 million to infrastructure construction.

The Ministry of Unification (MOU) presented the plan at a Cabinet meeting, asking for a total of KRW1.44 trillion ($1.18 billion) for next year's budget.

Become a member for less than $4 per week.

  • Unlimited access to all of NK News: reporting, investigations, analysis
  • The NK News Daily Update, an email newsletter to keep you in the loop
  • Searchable archive of all content, photo galleries, special columns
  • Contact NK News reporters with tips or requests for reporting
Get unlimited access to all NK News content, including original reporting, investigations, and analyses by our team of DPRK experts.
Subscribe now

All major cards accepted. No commitments – you can cancel any time.