June 03, 2023

South Korea’s defense ministry pushes for record-high $44.7 billion budget

Military strength & surveillance core to 2021 defense budget; unification ministry makes cuts to defector resettlement

South Korea’s Ministry of National Defense (MND) will ask the country’s National Assembly to approve a 5.5% increase to its 2021 military budget, according to a government press release published on Tuesday.

The defense ministry asked for a budget of around 52.92 trillion won ($44.73 billion) for 2021. If approved, it would mark two consecutive years that defense spending surpassed the 50 trillion won mark.