The South Korean President on Tuesday emphasized the importance of building “strong security capabilities” so the country can determine its own future, in a speech on his budget plan to enhance the “power of peace” on the peninsula.

Speaking at the National Assembly, President Moon Jae-in detailed his government’s fiscal achievements over the last two and a half years and proposed the government budget for 2020.

Moon suggested the four major goals of the budget proposal and tax law revisions, which include “peace for a bright future.”

“The Korean peninsula is now facing its last hurdle in stepping towards permanent