Amidst threats, Seoul eyes defence budget hike
South Korea’s Ministry of National Defense (MND) has requested a record defence budget of KRW43.7 trillion ($38.7 billion) for next year. Although yet to be approved, this figure represents an 8.4% increase compared to the 2017 budget.
There is an 11.6% rise (rising to $12.1 billion) on equipment, including the expensive blue ribbon Korea Air and Missile Defence (KAMD) system and the Kill Chain preemptive strike project.
A lot of the intended budget increase will also go towards the payroll, with President Moon Jae-in promising in his election campaign that he would gradually raise the country’s minimum wage
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![NATO experiments with solutions to integrate networks, AI and uncrewed systems]()
NATO experiments with solutions to integrate networks, AI and uncrewed systems
During the latest edition of the NATO DiBaX, the alliance tested multiple capabilities to inform requirements for future efforts.
-
![Leonardo unveils plans for Michelangelo air defence dome]()
Leonardo unveils plans for Michelangelo air defence dome
The new multi-layered defence system will harness AI to neutralise airborne threats and protect Europe from Russian aggression.
-
![What will next-gen counter-UAS capabilities for the US look like?]()
What will next-gen counter-UAS capabilities for the US look like?
Future US counter-uncrewed aerial system solutions are likely to require a flexible, multi-layered approach to tackle a broad spectrum of new threats as they emerge.
-
![Elbit Systems awarded $2.3 billion contract as results soar]()
Elbit Systems awarded $2.3 billion contract as results soar
The company’s order backlog as of 30 September totalled $25.2 billion and more than a third of this is scheduled to be fulfilled before the end of 2026.
-
![US military foresees growing use of 3D printing]()
US military foresees growing use of 3D printing
Advanced manufacturing has evolved to meet military requirements and now supports multiple US critical assets, including Arleigh Burke-class destroyers, F-18, F-22, F-35, Bradley, HMMWV and Patriot.
