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.
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.
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